Irvine-based Movandi said today it has raised $40 million in strategic funding to accelerate the global deployment of high-performance connectivity infrastructure across 5G, satellite communications, and fixed wireless access.
The funding round was led by a $20 million investment from ITHCA Group, the sovereign-backed technology investment firm based in Oman.
Additional participation came from Phaistos Investment Fund and global technology leaders including VT Alliance, Murata, and Movandi’s existing investors including Cota Capital, Celesta Capital, DNX Ventures and Sierra Ventures.
Movandi is led by brother-and-sister team Reza Rofougaran and Maryam Rofougaran, well-known OC entrepreneurs.
