ITHCA invests in US chip firm to boost Oman's tech vision
Muscat – ITHCA Group has signed a strategic investment agreement with US-based Lumotive, a company focused on programmable optical semiconductor technology, as part of efforts to strengthen Oman's position as a regional hub for advanced industries.
The agreement was signed by Saeed bin Abdullah al Mandhari, CEO of ITHCA Group, and Sam Heidari, CEO of Lumotive.
'This is our second investment in the sector, as we work towards establishing a centre of excellence for Omani semiconductor designers catering to both regional and global markets,' Mandhari said.
He added that the deal reflects ITHCA's approach of partnering with global technology leaders to promote knowledge transfer and build national expertise in semiconductor design.
Heidari welcomed the agreement, saying it would support joint work in research, design and skills development.
Lumotive's honours include the title of 'Next Big Thing in Tech' from Fast Company and three CES Innovation Awards. Its backers include Gates Frontier, MetaVC Partners, Quan Funds, Samsung Ventures and Uniquest.
© Apex Press and Publishing Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
an hour ago
- Gulf Today
Space sector key to future and sustainable growth in UAE, says Sheikh Hamdan
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Supreme Space Council, met with representatives of leading space sector startups operating in the UAE. The meeting is part of Sheikh Hamdan's keenness to advance the national space ecosystem and further promote its role as a global leader in the space industry. Sheikh Hamdan underscored the importance of strong partnerships and strategic collaboration between the public and private sectors as a foundation for developing an advanced and innovative space ecosystem. He highlighted that continuous innovation and long-term investment in future technologies are essential to this progress. Sheikh Hamdan also expressed confidence in the capabilities of UAE-based companies and entrepreneurs, noting their crucial role in driving the growth of the local space industry and strengthening the country's position as a leading global hub in this strategic field. Sheikh Hamdan also highlighted the space sector as a vital driver of the future and sustainable economic growth. He stressed the UAE's ongoing efforts to build a supportive environment that fosters the growth of national companies and unlock new opportunities for investment and innovation, boosting the country's global competitiveness and leadership in space. The private sector is leading the space scene in the UAE, reaffirming the maturity of national investments that have been established over the past three decades. A number of the UAE-based companies took part in the meeting, representing a wide range of specialisations, including locally developed Internet of Things (IoT) solutions, artificial intelligence and remote sensing, commercial space ecosystem development, edge computing for robotics applications, high-resolution Earth observation via microsatellites, as well as AI systems, robotics, interactive simulation technologies, and reusable space launch systems. Participants shared insights into their current projects, long-term strategies, and future investment plans in support of the national economy. Discussions focused on strengthening public-private collaboration, expanding operations both locally and internationally, and exploring promising opportunities within the UAE's growing space sector—highlighting the private sector's central role in shaping a globally competitive and integrated space industry. Company representatives reaffirmed their commitment to the UAE's space ambitions and outlined plans to expand their operations within the country. They praised the UAE's flexible regulatory framework and advanced infrastructure as key enablers of sustained investment. Attendees also welcomed initiatives such as the Space Economic Zones Programme, which they said play a vital role in enabling collaboration and fostering long-term, sustainable growth across the space ecosystem. The meeting was attended by Dr Ahmad Belhoul Al Falasi, Minister of Sports, Secretary-General of the Supreme Space Council, and Chairman of the Board of Directors of the UAE Space Agency; Khalid Al Awadi, founder of Rimal; Ibrahim Al Obaidly, founder of Ardhiyat Al Ibdaa Information Solutions; David Critchley, CEO of 4EI; Dr Hamdullah Mohib, CEO of Marlan Space; Alex Lapir, CEO of Aliensense; Abdulhalim Jallad, co-founder of Oryx Space; and Stan Rudenko, CEO of Aspire Space Technology. WAM
Sharjah 24
4 hours ago
- Sharjah 24
Dubai CP explores future of space sector with UAE-based startups
Underscored the importance of strong partnerships and strategic collaboration between the public and private sectors His Highness Sheikh Hamdan underscored the importance of strong partnerships and strategic collaboration between the public and private sectors as a foundation for developing an advanced and innovative space ecosystem. He highlighted that continuous innovation and long-term investment in future technologies are essential to this progress. His Highness Sheikh Hamdan also expressed confidence in the capabilities of UAE-based companies and entrepreneurs, noting their crucial role in driving the growth of the local space industry and strengthening the country's position as a leading global hub in this strategic field. Space sector as a vital driver of the future and sustainable economic growth His Highness Sheikh Hamdan also highlighted the space sector as a vital driver of the future and sustainable economic growth. He stressed the UAE's ongoing efforts to build a supportive environment that fosters the growth of national companies and unlock new opportunities for investment and innovation, boosting the country's global competitiveness and leadership in space. The private sector is leading the space scene in the UAE, reaffirming the maturity of national investments that have been established over the past three decades A number of the UAE based companies took part in the meeting, representing a wide range of specialisations, including locally developed Internet of Things (IoT) solutions, artificial intelligence and remote sensing, commercial space ecosystem development, edge computing for robotics applications, high-resolution Earth observation via microsatellites, as well as AI systems, robotics, interactive simulation technologies, and reusable space launch systems. Participants shared insights Participants shared insights into their current projects, long-term strategies, and future investment plans in support of the national economy. Discussions focused on strengthening public-private collaboration, expanding operations both locally and internationally, and exploring promising opportunities within the UAE's growing space sector—highlighting the private sector's central role in shaping a globally competitive and integrated space industry. Company representatives reaffirmed their commitment to the UAE's space ambitions and outlined plans to expand their operations within the country. They praised the UAE's flexible regulatory framework and advanced infrastructure as key enablers of sustained investment. Attendees also welcomed initiatives such as the Space Economic Zones Programme, which they said play a vital role in enabling collaboration and fostering long-term, sustainable growth across the space ecosystem. Attendees The meeting was attended by Dr. Ahmad Belhoul Al Falasi, Minister of Sports, Secretary-General of the Supreme Space Council, and Chairman of the Board of Directors of the UAE Space Agency; Khalid Al Awadi, founder of Rimal; Ibrahim Al Obaidly, founder of Ardhiyat Al Ibdaa Information Solutions; David Critchley, CEO of 4EI; Dr. Hamdullah Mohib, CEO of Marlan Space; Alex Lapir, CEO of Aliensense; Abdulhalim Jallad, co-founder of Oryx Space; and Stan Rudenko, CEO of Aspire Space Technology.
TAG 91.1
5 hours ago
- TAG 91.1
H.H. Sheikh Hamdan backs innovation, investment in UAE space sector
The UAE is strengthening its position as a global space leader with renewed focus on innovation and public-private collaboration. His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Dubai's Crown Prince and the UAE's Deputy Prime Minister and Defence Minister, has met with representatives of leading space startups in the UAE, reaffirming the country's commitment to building a world-class space industry. The meeting highlighted the role of local companies in areas like AI, robotics, Earth observation and reusable launch systems, with participants praising the UAE's supportive policies and outlining plans for future growth and investment. As Chairman of the Supreme Space Council, Sheikh Hamdan stressed the importance of long-term investment in future technologies, and praised the role of UAE-based firms in advancing the national space industry and driving sustainable economic growth. Participants shared insights into their current projects, long-term strategies, and future investment plans in support of the national economy. As part of our efforts to advance the national space sector, I met with representatives of space companies in the UAE to explore deeper collaboration between the public and private sectors. With the guidance of our leadership, the dedication of our people, and the energy of our… — Hamdan bin Mohammed (@HamdanMohammed) June 11, 2025
