Movandi, a leading innovator in semiconductor and systems technology, has raised $40 million in strategic funding aimed at enhancing the global deployment of high-performance connectivity infrastructure. This funding is crucial for advancing solutions across three primary domains: 5G, satellite communications, and fixed wireless access.
ITHCA (a technology investment firm backed by sovereign funds committed to driving innovation across the MENA region) led the funding round at $20 million. And this investment not only signifies financial backing but also marks Movandi’s strategic expansion into the Middle East, reflecting the region’s growing importance in the global tech landscape.
In addition to ITHCA Group, other investors participated in this funding round, including the Phaistos Investment Fund, as well as prominent technology leaders such as VT Alliance and Murata. Existing investors, including Cota Capital, Celesta Capital, DNX Ventures, and Sierra Ventures, also added their support to this effort. Their collective participation highlights a strong confidence in Movandi’s mission to lead the next era of intelligent connectivity and technological advancement.
The funding will enable Movandi to build on its leadership in mmWave technology and expand its role as a fundamental enabler of intelligent infrastructure. One of the critical areas of focus is Fixed Wireless Access (FWA), where Movandi plans to leverage cost-effective solutions that utilize both 5G and Wi-Fi technologies. This approach aims to enhance connectivity in areas where traditional wired solutions may be impractical or too expensive.
Additionally, Movandi is set to make significant advancements in non-terrestrial satellite communications (Satcom). This initiative will provide global, low-latency coverage, allowing for better connectivity options in remote and underserved regions. The company will also focus on developing next-generation RF systems that will improve the performance of terrestrial wireless networks, making them more efficient and reliable.
The investment from ITHCA also aligns with Oman’s Vision 2040, which aims to establish a deep-tech ecosystem encompassing artificial intelligence, semiconductors, and intelligent connectivity. In light of this partnership, Movandi plans to establish a new office in Oman. This presence will allow the company to access regional talent and expertise while fostering an environment conducive to technology co-development, local deployments, and partnerships with universities and research institutions in the area.
Movandi has already made significant strides in transforming the economics and performance of mmWave technology through its innovative RF chipsets, beamforming silicon, phased array antennas, and repeater systems. The company is now poised to extend this technological advantage to low Earth orbit (LEO) satellite systems and hybrid fixed wireless access deployments. This will assist operators in overcoming various barriers, such as cost, operational range, and latency, enabling the expansion of broadband services on a global scale.
KEY QUOTES:
“This is a pivotal inflection point in Movandi’s growth. We’re expanding beyond 5G into larger markets: satcom, fixed wireless, and AI-driven connectivity, leveraging the world-class RF and mmWave technology and team. With ITHCA and our strategic investors, we’re creating a bridge between Silicon Valley and the Middle East that will enable Movandi to scale into new markets and regions.”
Maryam Rofougaran, CEO and co-founder of Movandi
“Our investment in Movandi reflects Oman’s strategy to partner with global semiconductor leaders, growing Oman’s talent pool and leveraging our resources. Movandi’s proven leadership in scaling international teams, and innovation in wireless systems, satellite communications, and 5G are aligned with our vision for building AI-capable, connected societies.”
Said Al Mandhari, CEO of ITHCA Group
