ITHCA Group has signed a strategic investment agreement with US-based Lumotive, a leader in programmable optical semiconductor technology, as part of its efforts to position Oman as a regional hub for advanced industries. The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive.
“This is our second investment in the sector as we work to establish a centre of excellence for Omani semiconductor designers catering to both regional and global markets,” Mandhari said. The partnership reflects ITHCA’s strategy of collaborating with global tech leaders to promote knowledge transfer and build national expertise in semiconductor design.
Heidari expressed excitement about the agreement, highlighting its potential to foster joint research, design, and skills development. Lumotive has earned accolades such as the “Next Big Thing in Tech” title from Fast Company and three CES Innovation Awards. The company’s investors include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures, and Uniquest.
