Rihal, a leading Omani technology and data services company, has announced the successful first close of its Series A funding round at $7.5 million, as part of its plan to raise a total of $15 million. The round was led by ITHCA Group, underscoring their confidence in Rihal’s growth trajectory and strategic vision.
This investment follows a period of exceptional growth since Rihal’s seed round in 2021, during which the company achieved an impressive CAGR of 119%. By expanding its operations, Rihal has made a tangible impact across high-value industries including government, logistics, telecom, and oil & gas.
Rihal’s growth is driven by a team of over 300 professionals, with 80% in technical roles, 90% local talent, and 43% female representation. This unique workforce composition highlights the company’s operational efficiency and commitment to sustainable talent development.
“This investment is a testament to the hard work and dedication of our entire team,” said Azzan Al Kindi, CEO of Rihal. “Since our seed round, we have been laser-focused on sustainable growth, building a diverse and capable team, and delivering exceptional value to our clients.”
Said Al Mandhari, CEO of ITHCA Group, commented: “Rihal’s performance has been nothing short of exceptional. Their ability to scale rapidly and penetrate diverse sectors is why we are proud to lead their Series A round.”
With this new capital, Rihal will accelerate its regional and international expansion, scale its proprietary platforms, and meet rising global demand for advanced data and AI-driven products. A second close is now open, targeting strategic investors aligned with Rihal’s mission to deliver enterprise-grade data management and analytics solutions.
