Omani data solutions provider Rihal has successfully closed the first tranche of its Series A funding round, securing $7.5 million from strategic investor ITHCA Group. The company is targeting a total raise of $15 million, with a second close now open to regional strategic investors, as demand for enterprise data solutions surges across the Gulf Cooperation Council (GCC).
The fresh capital injection marks a significant milestone in Rihal’s journey, reinforcing investor confidence in the company’s business model, which has posted a compound annual growth rate (CAGR) of 119% since its seed round in 2021.
A Regional Data Pioneer on the Rise
With operations across sectors including government, logistics, telecom, and oil & gas, Rihal has rapidly positioned itself as a trusted player in the Middle East’s growing data economy.
“This investment is a testament to the hard work and dedication of our entire team,” said Azzan Al Kindi, CEO of Rihal. “We’ve focused on building sustainable growth, a strong and diverse team, and high-value data solutions that solve real enterprise problems.”
Rihal’s team now includes over 300 professionals, 80% in technical roles, with a workforce that is 90% local and 43% female—a standout in a male-dominated sector. The company aims to use the funding to scale both regional and international operations, expanding the reach of its proprietary AI and data platforms.
Backing From a Strategic Investor
ITHCA Group, a prominent Omani technology investment firm, led the Series A round. The group sees Rihal as a key part of its strategy to support high-impact, scalable companies within the GCC’s digital economy.
“Rihal’s performance has been nothing short of exceptional,” said Said Al Mandhari, CEO of ITHCA Group. “Their ability to rapidly scale and innovate across high-value sectors makes them an ideal partner. We are excited to support their regional and global expansion.”
“Rihal is one of those rare players with the right leadership, traction, and vision to scale beyond Oman and into the broader GCC,” added Ameer Al-Alawi, Director of Asset Management at ITHCA.
A Call to Strategic Investors
With the second close now open, Rihal is inviting strategic investors aligned with its mission to deliver enterprise-grade AI and data analytics solutions to join its growth journey.
The company plans to use the additional capital to:
- Accelerate product development
- Expand its regional footprint
- Invest in talent and R&D
- Strengthen partnerships in AI, data governance, and cloud services
This Series A round is expected to solidify Rihal’s position as a regional leader in data-driven enterprise technology, poised to play a larger role in the Middle East’s digital transformation.
