Muscat – In a move that reaffirms its commitment to global technology partnerships and national talent development, ITHCA Group has signed a strategic investment agreement with Lumotive, a US-based company specializing in programmable optical semiconductor technology.
The agreement was signed by Eng. Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive.
This strategic investment underscores ITHCA’s ambition to support global innovators and aligns with Oman’s Vision 2040, which seeks to transform the country into a regional hub for advanced technologies and a knowledge-based economy.
Eng. Saeed al Mandhari, CEO of ITHCA Group, stated:
“Our investment in Lumotive reflects our ongoing commitment to global partnerships with technology pioneers and to empowering national talent in semiconductor design.
This is our second investment in the sector, and we aim to establish a center of excellence for Omani semiconductor designers to serve both regional and international markets.”
Sam Heidari, CEO of Lumotive, welcomed the agreement:
“This partnership opens doors for collaboration in R&D, advanced design, and skills development, while also supporting ITHCA’s strategy to promote technology transfer and local capability building.”
Lumotive has received significant international recognition, including three CES Innovation Awards and a place on Fast Company’s “Next Big Thing in Tech” list. The company’s backers include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures, and Uniquest.
This investment marks a major step toward Oman’s long-term goal of building a national ecosystem for semiconductor innovation, while fostering sustainable, knowledge-driven economic growth.
