Muscat - Sharikat Mubasher: Rihal, an Oman-based leader in the technology and data services sectors, announced the successful first close of its series A funding round, securing $7.5 million from ITHCA Group.
Rihal will use the new capital to accelerate its expansion into regional and global markets and scale its proprietary platforms and tech solutions to meet evolving global demand for advanced data and AI-driven products, the company revealed in a recent statement.
The series A round, which targets a total raise of $15 million, will enable Rihal to fuel its mission of driving digital transformation and creating high-value opportunities locally and globally.
A second close is now open, targeting strategic investors aligned with Rihal’s mission of delivering enterprise products that simplify data management and enable advanced data analytics across the region.
Azzan Al Kindi, CEO of Rihal, affirmed the company’s commitment to building a strong and diverse team while delivering exceptional value to the clients.
“The continued partnership with ITHCA Group provides us with the resources to embark on our next chapter of global expansion and solidify our position as a market leader,” he added.
With a highly skilled team of over 300 professionals, Rihal demonstrates both operational efficiency and an advanced approach to sustainable talent development, a model that can expand across emerging markets.
For his part, Said Al Mandhari, CEO of ITHCA Group, commented: “Rihal's performance has been nothing short of exceptional. 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 that this investment will propel Rihal to new heights, and we are excited to be a part of their journey as they expand internationally."
Rihal harnesses data, software, and AI to empower a diverse client base across key sectors, including government, logistics, telecom, and oil and gas. Since its launch, the company has demonstrated an impressive CAGR of 119% of 119%, expanding its operations and making a substantial impact across key industries.