Rihal, a regional leader in technology and data services, today announced the successful first close of its Series A funding round, with a total raise target of $15 million. The round was led by ITHCA Group, which invested $7.5 million—reaffirming their confidence in Rihal’s strategic vision and exceptional growth trajectory.
This investment follows a period of rapid development since Rihal’s seed round in 2021. The company has achieved an impressive compound annual growth rate (CAGR) of 119%, expanding its footprint and delivering transformative solutions across key sectors, including government, logistics, telecom, and oil & gas.
Rihal’s momentum is driven by a team of over 300 professionals, 80% of whom are in technical roles. With a workforce that is 90% local and 43% female, Rihal exemplifies a scalable, inclusive, and future-ready talent model—positioned to thrive across emerging markets.
The new capital will accelerate Rihal’s expansion into regional and international markets, enabling the company to scale its proprietary platforms and meet rising global demand for advanced data and AI-powered solutions.
“This investment is a testament to the dedication and resilience of our team,” said Azzan Al Kindi, CEO of Rihal. “Since our seed round, we’ve remained focused on sustainable growth, building a diverse and capable workforce, and delivering exceptional value to our clients. With ITHCA Group’s continued support, we’re ready to enter the next phase of global expansion and strengthen our position as a market leader.”
Said Al Mandhari, CEO of ITHCA Group, added, “Rihal’s performance has been outstanding. Their ability to scale rapidly, innovate consistently, and penetrate high-value sectors makes them a standout investment. We’re proud to lead this round and support their journey into international markets.”
“At ITHCA Group, we prioritize companies that demonstrate both impact and momentum,” said Ameer Al-Alawi, Director of Asset Management. “Rihal is a rare player with the leadership, traction, and vision to scale beyond Oman and into the broader GCC.”
This funding marks a pivotal milestone for Rihal as it advances its mission to drive digital transformation and unlock high-value opportunities across local and global markets.
A second close is now underway, targeting strategic investors aligned with Rihal’s vision of delivering enterprise-grade solutions that simplify data management and enable advanced analytics across the region.
