Friday 12 April 2024

Hamad Alrowaish

Hope Ventures co-invests $48k in ‘ReQahwa’ through Beban

MANAMA, February 23, 2024

Hope Ventures, the investment arm of Hope Fund, has announced its co-investment in Bahrain-based business ‘ReQahwa’ during the seventh episode of the entrepreneurship-themed reality television show ‘Beban.’
Through Beban, ‘ReQahwa’ a Bahrain-based coffee upcycling startup that transforms coffee waste grounds into sustainable and bio-degradable products, co-founded by Hamad Alrowaish and 3 co-founders, fundraised $48k from Hope Ventures and Lebanese investor Dr Wissam Fahed who is a professor at LAU, the president EO Lebanon, and the CEO of Fahed Retail Holding.
As an investment firm, Hope Ventures invests in scalable businesses that are deeply rooted in their commitment to building value with forward-thinking founders who revolutionise their respective sectors. The firm offers strategic capital to accelerate the growth of its portfolio companies to new markets through its vast resources of private and public partners as well as a regional network of industry-expert mentors.
Forward-thinking founders
On Beban, Hope Ventures is represented by Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who also moderates the episode. Hope Ventures’ investment in ReQahwa reflects its commitment to investing in forward-thinking founders with innovative businesses that solve existing challenges and have plans to grow and expand on a regional level.
Commenting on their investment, Hamad Alrowaish, Co-Founder and CEO of ReQahwa, said: “I am thrilled to announce that ReQahwa has successfully raised $48k in funding from Hope Ventures and Dr. Wissam Fahed through Beban TV show, propelling us toward a future where sustainability and innovation go hand in hand. As a university student entrepreneur, I am deeply passionate about creating positive change, and our mission to transform coffee waste grounds into sustainable and bio-degradable products is a testament to that commitment.”
He added: “At ReQahwa, we believe that every challenge presents an opportunity. With the staggering amount of coffee waste generated, we saw untapped potential; by harnessing the power of innovation and sustainability, we have developed a groundbreaking process that converts coffee grounds into a wide range of eco-friendly products.”
Private-public investment platform
Beban TV show is the region’s 1st private-public investment platform through its formed partnerships with Khalifa Fund for Enterprise Development (UAE), the SME Development Authority (Sultanate of Oman), GFH Capital (Kingdom of Saudi Arabia), Zain Kuwait and Sabah Al Ahmad Centre for Giftedness and Creativity (Kuwait), and the Labor Fund Tamkeen (Kingdom of Bahrain).
Beban season 3 was filmed in the Middle East’s newest exhibition and convention centre, Exhibition World Bahrain (EWB), and showcases 41 businesses from across the Mena region as they pitch in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate the growth of these businesses into new markets.--TradeArabia News Service


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