In a major move, Bahrain´s first business angels company Tenmou has increased its investment in Unipal, an online platform providing exclusive benefits to students in the kingdom. Also it aims to enter a new investment plan with Tao Media, an online platform that connects media organizations to freelancers.
The announcement into the Bahraini startup was made at the first investment committee of Tenmou, which provides both mentorship and capital to high-potential, innovative Bahraini entrepreneurs from the seed stage.
This move comes after its Unipal's founders displayed a remarkable ability to invest the previous "Tenmou" financing in attaining several excellent successes in terms of improving the operating model, boosting the work team, and expanding the company, said Tenmou in a statement.
Tenmou pointed out that Unipal had supported so many Bahraini students, partnered with numerous universities and high schools, and is currently expanding into Saudi Arabia, a key reason for its investment boost.
Unipal secured 50% of the student population, as they have helped students save over $100,000 and that the value it is bringing to Bahrain and students not only locally but regionally is incredibly significant.
Tenmou said its want to help Unipal accelerate its growth in the kingdom.
"Boosting the investment in Unipal and proceeding with a new deal for Tao Media indicates Tenmou's desire to form strategic partnerships with Bahraini startups that demonstrate their potential to grow," explained Tenmou's CEO Nawaf Al koheji.
"Tenmou's investment committee selected these companies after meetings with many startups that have pitched to the company and discussed their investment plans," he added.
During its meeting with Tao Media, one of its founders Ali Albanna said the company aims to create a social impact and help so many businesses run efficiently and effectively within the media industry.
The investment committee in Tenmou announced its entry into new investment plans in Tao Media, an online platform with a wide database reaching 35+ countries.
The organisation, which connects media organizations to freelancers, has also secured an international deal.
Al Koheji said Tenmou’s investment in these two companies would accelerate their growth and will also provide them with the necessary expertise and skills to lead them towards developing the business model and improving products and services and expanding productivity and profitability.
"Through these new investment and previous ones, Tenmou is eager to achieve several objectives, including strengthening the entrepreneurial environment, focusing on innovation in projects, increasing startup’s ability to create jobs, boosting their contribution to GDP and supporting the national economy in Bahrain," he added.-TradeArabia News Service