ITHCA Group has signed a strategic investment agreement with Lumotive, a US-based company specializing in programmable optical semiconductor technology. This collaboration aims to strengthen Oman’s position as a regional hub for advanced industries, specifically in semiconductor design.
The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive. Mandhari emphasized that this investment is part of ITHCA’s efforts to establish a centre of excellence for Omani semiconductor designers, catering to both regional and global markets. He also highlighted the company’s commitment to partnering with global technology leaders to promote knowledge transfer and build local expertise.
Sam Heidari expressed his support for the agreement, which will foster joint efforts in research, design, and skills development in the semiconductor field. Lumotive has earned recognition as ‘Next Big Thing in Tech’ by Fast Company and has received multiple CES Innovation Awards. The company is backed by prominent investors, including Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures, and Uniquest.
