Muscat-based technology and data services leader Rihal has announced the successful first close of its Series A funding round, targeting a total raise of $15 million. The round was led by ITHCA Group, which invested $7.5 million, underscoring confidence in Rihal’s strategic vision and rapid growth.
Since its seed round in 2021, Rihal has achieved an impressive CAGR of 119%, expanding operations across critical industries such as government, logistics, telecom, and oil & gas. The company’s trajectory highlights its ability to deliver scalable and innovative solutions that address the evolving needs of regional and global markets.
“This investment is a testament to the hard work and dedication of our entire team,” said Azzan al Kindi, CEO of Rihal.
Said Al Mandhari, CEO of ITHCA Group, praised the company’s exceptional performance: “Their ability to rapidly scale, innovate, and penetrate diverse, high-value sectors is why we are proud to lead their Series A round. We are confident this investment will propel Rihal to new heights as they expand internationally.”
The Series A milestone marks a pivotal moment for Rihal, reinforcing its ambition to strengthen regional leadership and pursue global expansion opportunities.
