- Funding Milestone: Oman-based Rihal secures $7.5M Series A funding led by ITHCA Group, as part of its $15M growth plan.
- Remarkable Growth: The company has achieved a 119% annual growth rate since 2021, driven by innovative data solutions and a strong tech workforce.
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Global Expansion: The new funding will accelerate Rihal’s entry into regional and international markets, enhancing its AI-driven platforms and digital capabilities.
Rihal, a leading Omani technology and data services company, announced the successful first closing of its Series A funding round, raising $7.5 million from ITHCA Group. This investment forms part of Rihal’s ambitious plan to raise $15 million to accelerate innovation and expand globally.
Impressive Growth Since 2021
Since its seed round in 2021, Rihal has demonstrated exceptional growth with a 119% annual increase, powered by its expansion into key strategic sectors including government services, logistics, telecommunications, and oil & gas.
The company’s growth is underpinned by a team of over 300 skilled professionals, of whom 80% work in advanced technical roles. Rihal also places strong emphasis on local talent, with Omanis representing 90% of its workforce, and women making up an impressive 43%.
Leaders’ Statements
Azan Al Kindy, CEO of Rihal, said:
“This investment reflects the recognition of our team’s dedication and achievements. Partnering with ITHCA Group provides us with the resources to scale further, strengthen our innovation, and expand globally.”
Said Al Mandhari, CEO of ITHCA Group, commented:
“Rihal has proven its ability to grow rapidly, innovate continuously, and diversify across high-value sectors. We are proud to lead this Series A round and look forward to witnessing Rihal’s continued success on a global stage.”
Amir Al Alawi, Head of Asset Management at ITHCA Group, added:
“We focus our investments on companies that demonstrate strong leadership, growth potential, and regional impact. Rihal is one of those rare companies poised to become a key player not only in Oman but across the GCC.”
Paving the Way for Global Expansion
The funding will enable Rihal to:
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Enhance its AI-powered platforms and digital data solutions,
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Expand into regional and international markets,
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Meet the rising demand for advanced enterprise solutions in data management and analytics.
Rihal also announced that it is opening its second closing of the Series A round, targeting strategic investors who share the company’s vision of pioneering innovative enterprise solutions and accelerating digital transformation in the region.
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