ITHCA led a $40m funding round in Movandi.

ITHCA, an Omani government-owned investment arm, led a $40m funding round in Movandi, a technology company, with participation from Phaistos Investment Fund, VT Alliance, Murata, Cota Capital, Celesta Capital, DNX Ventures, and Sierra Ventures. "We're expanding beyond 5G into larger markets: satcom, fixed wireless, and AI-driven connectivity, leveraging the world-class RF and mmWave technology and team. With ITHCA and our strategic investors, we're creating a bridge between Silicon Valley and the Middle East that will enable Movandi to scale into new markets and regions," Maryam Rofougaran, Movandi CEO and Co-Founder.