Oman-based technology and data solutions startup Rihal has closed the first part of its investment round, raising $7.5 million. The company is targeting a total of $15 million for this round.
The new funds will help Rihal speed up its innovation and expand both in Oman and across the region.
ITHCA Group, the technology investment arm of the Oman Investment Authority, led the round.
The new funding will help Rihal improve its data-driven platforms, digital tools, and artificial intelligence solutions.
This will also allow the company to meet the rising demand for these technologies in Oman and around the world.
Rihal has also opened the second phase of its funding round for strategic investors.
This step supports Rihal’s vision of offering innovative solutions for businesses and institutions.
Rihal was founded in 2018 by Azzan Al Kindi, Asim Al Shabibi, and Waleed Al Harthi.
Today, it is one of Oman’s leading companies in data platforms, software, and AI solutions, serving clients in important and strategic sectors.
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