ITHCA group
ITHCA Group is the sovereign ICT investment arm of Oman Investment Authority, operating 11+ subsidiaries across telecom infrastructure, cloud, cybersecurity, semiconductors, and venture capital to drive Oman's Vision 2040 digital transformation.
- Company typePrivate
- Founded2019
- HeadquartersMuscat, Oman
- Headcount251–500
- GTM typeB2B
- OfferingServices
What ITHCA group does
ITHCA Group is the strategic ICT investment arm of Oman Investment Authority (OIA), established in 2019 to operationalize Oman's Vision 2040 digital economy and economic diversification agenda. Headquartered in Muscat, the group operates as a sovereign holding company that 'complements rather than competes' with the private sector, deploying patient capital and operating subsidiaries in segments where commercial players cannot engage. Its portfolio spans 11+ wholly-owned subsidiaries across telecom infrastructure (Oman Broadband, Oman Towers, Space Communication Technologies), managed technology services (Rihal, OSOS, FRONTECH, DTM), venture capital (Oman Technology Fund, Phaze Ventures), shared services (Withaq Center), and IoT/hardware (Onsor Technologies).
The group's technology footprint centers on 4th Industrial Revolution capabilities — cloud infrastructure (operated via Oracle OCI Dedicated Regions in Muscat and Ibri), cybersecurity, IoT, blockchain, AI/ML integration, data center services, and a recently launched national semiconductor ecosystem anchored by GSME ($13M), Lumotive ($5M plus Series B participation), and Movandi ($20M plus a led $40M strategic round and $20M National Innovation Centre). Technology is delivered through subsidiaries, joint ventures, and government contracts rather than a single product platform, with revenue mechanics spanning wholesale telecom infrastructure, managed services to government entities, portfolio investment returns, and emerging enterprise SaaS via Rihal and OSOS.
ITHCA's go-to-market is enterprise field sales anchored on Omani ministries, regulators, telecom operators, and SOEs, supplemented by international technology partnerships (Oracle, Movandi, Lumotive, GSME) and GCC expansion channels such as the Bawabat accelerator co-managed with Saudi VC Vision Ventures. Capital is sourced from OIA as the parent, and ITHCA both invests as a limited partner/lead investor and operates as a holding company. Customers are concentrated in government and state-adjacent sectors, with pricing not publicly disclosed and revenue figures undisclosed.
ITHCA group firmographics
Firmographics- Name
- ITHCA group
- Legal name
- ITHCA Group
- Website
- https://ithca.om
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- ITHCA Group is the sovereign ICT investment arm of Oman Investment Authority, operating 11+ subsidiaries across telecom infrastructure, cloud, cybersecurity, semiconductors, and venture capital to drive Oman's Vision 2040 digital transformation.
- Ownership category
- akta.pro rank
ITHCA group industry classification
Industry- Product category
- ICT Investment and Digital Infrastructure Services
- NAICS
- Management of Companies and Enterprises (55111), Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)
- SIC
- Telephone & Telegraph Apparatus (3661)
- akta.pro primary industry
- Enterprise Architecture & Technology Roadmapping (BPAEAAAC)
- akta.pro secondary industries
- ITIL/ITSM Process Consulting & Implementation (BPAEAJAB), IT Asset Discovery, Inventory & CMDB Services (BPAEAOAE)
Keywords
Where ITHCA group is headquartered
LocationHeadquarters
- HQ city
- Muscat
- HQ country
- Oman
- HQ region
- Middle East
Offices1 record
Markets served
ITHCA group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales, Supply Chain
Revenue model
- Investment Returns: Returns from strategic investments in ICT companies and portfolio companies including semiconductor, cloud, cybersecurity, and digital transformation sectors
- Government ICT Services: Services to government entities including cloud infrastructure, cybersecurity, data management, and digital transformation through subsidiaries and partnerships
- Telecom Infrastructure: Revenue from passive telecom infrastructure (towers, broadband, satellite) through subsidiaries Oman Broadband, Oman Towers, and Space Communication Technologies
Go-to-market motion2 records
Distribution channels3 records
Marketing channels4 records
ITHCA group product offering
Product offeringCore offering
ITHCA Group is the strategic ICT investment arm of the Oman Investment Authority. It deploys capital into domestic and international technology companies and operates wholly-owned subsidiaries spanning broadband infrastructure, telecom towers, satellite communications, cloud services, cybersecurity, ERP solutions, data management, AI/blockchain solutions, IoT devices, and digital transformation services, all aligned with Oman Vision 2040.
Product overview
ITHCA Group operates as a diversified ICT investment and services conglomerate with multiple subsidiaries and product lines. The company provides a broad portfolio including broadband infrastructure (Oman Broadband), satellite communications (Space Communication Technologies), telecom towers (Oman Towers), venture capital (Oman Technology Fund, Phaze Ventures), cloud and cybersecurity services (with Oracle partnership), data center services, IoT solutions (Onsor), AI and blockchain solutions (FRONTECH), ERP solutions (OSOS), data management consultancy (Rihal), shared services (Withaq Center), and digital transformation management (DTM). The company functions as both an investment arm of Oman Investment Authority and an operational ICT services provider, focused on 4th Industrial Revolution technologies under Oman Vision 2040.
Differentiator
Problem solved
Functional benefit
Brands
- Bawabat: Startup accelerator program for Omani startups to enter the Saudi market with support including up to $100,000 in funding and regional market entry assistance
- Withaq Center
- Tamkeen Training Program
Quantifiable outcome
- 92 Omani graduates trained in semiconductor and chip design with 67 employed
- +2 more outcomes
Companies that use ITHCA group
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
ITHCA group technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
ITHCA group partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered core and minor.
- Environment Authority in OmancoreITHCA Group signed a consultancy agreement with the Environment Authority in Oman to implement an Environmental Data Bank project for managing environmental data and supporting decision-making. This aligns with Oman's digital transformation agenda under Vision 2040.
- Vision VenturescoreITHCA Group partnered with Vision Ventures, a Saudi venture capital fund, to launch an accelerator programme called 'Bawabat' and a venture fund to support Omani startups entering the Saudi Arabian market. The programme includes a six-month accelerator, financial investments, and strategic partnerships.
- OraclecoreOracle partnership for OCI Dedicated Region in Oman, with ITHCA Group operating the first OCI Dedicated Region in Muscat. Oracle launched its second OCI Dedicated Region in Ibri City, Oman's first hyperscale cloud region designed to support public sector innovation and data sovereignty requirements.
- eMushrifminorITHCA Group participated in eMushrif's $7.5 million funding round. eMushrif specializes in AI and IoT-powered school management solutions, serving over 150,000 students across public and private schools in Oman and Kuwait.
- Semiconductor Ecosystem Partners (GSME, Lumotive, Movandi)coreOman hosted the Semiconductor Ecosystem Enablement & Investment Forum in Muscat bringing together ~250 semiconductor executives, investors, and policymakers. GSME, Lumotive, and Movandi have committed to establishing or have already opened satellite offices in Oman.
- National Technology Group (NTG)coreITHCA Group with NTG launched the Tajawob platform, a digital platform for government services and technology solutions.
- YangominorITHCA Group collaborated with Yango including the acquisition of OTaxi, expanding into mobility and transportation technology.
- Sultan Qaboos UniversitycoreStrategic partnership agreement with Sultan Qaboos University for technology collaboration and talent development.
- Future Fund OmancorePartnership with Future Fund Oman for investment and economic development initiatives.
- Civil Aviation AuthoritycoreStrategic agreement with Civil Aviation Authority for technology and digital transformation services.
- International Finance Corporation (IFC)coreStrategic agreement with IFC of the World Bank Group for investment and development initiatives.
- Ministry of Higher Education, Research and InnovationcoreStrategic agreement with the Ministry for technology development and innovation initiatives.
- ADQ (Abu Dhabi Development Holding Company)coreStrategic agreement with ADQ for regional investment and development collaboration.
- Thiqah (Saudi Arabia)coreStrategic partnership with KSA's Thiqah for technology cooperation and market access.
- Oman Data ParkcoreITHCA Group and Oman Data Park launched Jabreen Cloud Infrastructure for cloud services delivery.
- Onsor TechnologiescoreStrategic investment in Onsor Technologies, an Omani startup focused on IoT and PC/laptop design and production, which has delivered successful IoT proofs of concept and is in production phase with its 2-in-1 notebook.
Scale indicators14 records
Recent moves6 records
Expansion highlights6 records
ITHCA group competitors and assessment
Company assessmentBroad incumbents
- STC Group (Saudi Telecom Company): Saudi Arabia's incumbent telecom operator with major tech investment arms (STC Ventures, stc pay) and a sovereign-backed mandate to drive Saudi Vision 2030 digital transformation — directly comparable structure to ITHCA.
- Omantel: Oman's incumbent telecom operator and a competitor/partner for ITHCA's Oman Towers and Oman Broadband subsidiaries. Operates in the same domestic telecom infrastructure market and is partially government-owned.
- e& (Etisalat Group): UAE-headquartered telecom giant with significant tech investment arms (e& capital, etisalat by e&) and digital infrastructure across MENA. Comparable diversified telecom-and-tech investment platform at much larger scale.
- du (Emirates Integrated Telecommunications): UAE telecom operator with significant digital services and tech investment exposure. Similar regional telecom operator with diversified technology subsidiary portfolio.
- Zain Group: Kuwait-based regional telecom operator with digital services arms (Zain Ventures, YoUDigital). Operates across multiple MENA markets with comparable diversified digital infrastructure and investment profile.
- Ooredoo Group: Qatar-based regional telecom operator with significant digital, fintech, and tech investment exposure across MENA markets. Comparable diversified telecom-tech investment platform with sovereign (Qatar Investment Authority) backing.
Direct peers
- Mubadala Investment Company: Abu Dhabi's sovereign wealth fund with a major technology investment arm (Mubadala Capital, MGX). Most directly comparable sovereign-backed ICT investor pursuing similar Vision-aligned mandates in semiconductors, AI, and digital infrastructure.
- Public Investment Fund (PIF): Saudi Arabia's sovereign wealth fund operating the NEOM and Vision 2030 tech agenda, deploying billions into semiconductor, cloud, and AI. Same sovereign-investor playbook as ITHCA but at much larger scale.
- ADQ (Abu Dhabi Developmental Holding Company): Abu Dhabi sovereign holding company with a strategic agreement with ITHCA Group. Operates comparable diversified technology and infrastructure investment platform across the GCC.
Emerging players
- Helios Towers: London-listed tower infrastructure operator focused on Africa and Middle East. Directly comparable to ITHCA's Oman Towers subsidiary in terms of business model (passive telecom infrastructure sharing) and target geographies.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
ITHCA group social profiles
Digital presenceITHCA group financial estimates
Financial estimateRevenue estimate
Valuation estimate
ITHCA group leadership team
Management profileNumber of profiles
Profiles9 records
ITHCA group subsidiaries and ownership
Company hierarchySubsidiaries11 records
ITHCA group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ITHCA group M&A and investment
M&A and investmentM&A1 record
Investments10 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ITHCA group
What does ITHCA group do?
ITHCA Group is the strategic ICT investment arm of the Oman Investment Authority. It deploys capital into domestic and international technology companies and operates wholly-owned subsidiaries spanning broadband infrastructure, telecom towers, satellite communications, cloud services, cybersecurity, ERP solutions, data management, AI/blockchain solutions, IoT devices, and digital transformation services, all aligned with Oman Vision 2040.
Is ITHCA group a public or private company?
ITHCA group is a private company. It is classified as state government owned and is currently operating.
When was ITHCA group founded?
ITHCA group was founded in 2019. It employs 251 to 500 people.
Where is ITHCA group based?
ITHCA group is headquartered in Muscat, Oman, in the Middle East region.
How does ITHCA group make money?
Three revenue lines are on record. Investment Returns are the primary driver. The others are government ICT Services and telecom Infrastructure.
Who are ITHCA group's main competitors?
Broad incumbents on record are STC Group (Saudi Telecom Company), Omantel, e& (Etisalat Group), du (Emirates Integrated Telecommunications), Zain Group and Ooredoo Group. Direct peers are Mubadala Investment Company, Public Investment Fund (PIF) and ADQ (Abu Dhabi Developmental Holding Company). Helios Towers is listed as an emerging player.
Does ITHCA group have an API?
No public API is recorded for ITHCA group.
What industry is ITHCA group in?
ITHCA group's product category is ICT Investment and Digital Infrastructure Services. Its primary akta.pro industry code is BPAEAAAC, Enterprise Architecture & Technology Roadmapping, with a secondary code of BPAEAJAB, ITIL/ITSM Process Consulting & Implementation. Its NAICS code is 55111 and its SIC code is 3661.