$20mn Investment in US Firm to Strengthen Oman's Tech Ecosystem
ITHCA Group, the technology investment arm of Oman Investment Authority, has invested $20mn in US-based Movandi, a semiconductor and wireless connectivity firm.
The investment aims to boost Oman's AI, semiconductor, and next-gen communication ecosystem, supporting the country's Vision 2040 goals to build a knowledge-driven and technology-based economy.
"The investment reflects the company's commitment to building strategic partnerships with leading international firms in emerging technologies," said Said bin Abdullah al Mandhari, CEO of ITHCA Group.
- Investment amount: $20mn
- US firm: Movandi
- Focus areas: artificial intelligence, semiconductors, and smart communications infrastructure
Author's summary: Oman invests $20mn in US firm to boost tech ecosystem.