• Oman’s ITHCA Group invests USD 20M in US semiconductor firm Movandi, boosting the country’s technology and communications sector.
• Movandi, founded by siblings Maryam and Reza Rofougaran, develops RF chipsets, beamforming systems, and smart antennas for advanced networks.
• Investment supports Oman Vision 2040 goals, fostering knowledge transfer, national competencies, and next-generation communication technologies including 5G and satellite networks.

ITHCA

Oman’s ITHCA Group, technology investment arm of the Oman Investment Authority, invested USD 20 million ( RO 8M) in US- based semiconductor firm, Movandi.

Founded in 2016 by siblings Maryam Rofougaran and Reza Rofougaran, Movandi is a  semiconductor and smart wireless connectivity solutions firm. It develops RF chipsets, beamforming systems, and smart antennas. These technologies aim to enhance the performance and reduce the cost of communication networks, both in urban and remote areas. 

This investment aligns with ITHCA Group’s mission to strengthen Oman’s presence in key technology sectors. This includes sectors such as artificial intelligence (AI), semiconductors, and smart communications infrastructure. Moreover, this is in line with the objectives of Oman Vision 2040, which aims to build a knowledge- and technology-based economy.

“We are working with our partners in Oman to build a new generation of communication technologies — including 5G, satellite communications, and fixed wireless access (FWA) — supported by advanced semiconductor innovations,” said Maryam Rofougaran, Co-Founder of Movandi.

Communication Technologies 

With this partnership, ITHCA aims to transfer knowledge and develop national competencies. It also aims to establish an integrated ecosystem to support Oman’s future in technology and digital economy. Additionally, this investment seeks to support building a new generation of communication technologies. This includes 5G, satellite communications, and fixed wireless access (FWA), supported by advanced semiconductor innovations.

“We are working with our partners in Oman to build a new generation of communication technologies — including 5G, satellite communications, and fixed wireless access (FWA) — supported by advanced semiconductor innovations,” said Maryam Rofougaran, Co-Founder of Movandi.

Additionally, with the support of IITHCA Group, Movandi will open a new office in Muscat. This office will serve as a center for research, development, and regional cooperation in smart communication and artificial intelligence.