Manama, Bahrain – Hope Ventures, the investment arm of Hope Fund and producers of Beban TV show, co-invests USD 160k in 2 local businesses: Steel Masters, and Frozen Nutrition, alongside the private sector on the first episode of Beban Season 2.
During the first episode, Steel Masters, a Bahrain-based manufacturer of customized barbeque equipment, grills, smokers, and food trucks, co-founded by Mahdi Taheri and Hussain Yousif, raised USD 120K from Hope Ventures and private investors. While Frozen Nutrition, a platform founded by Mohammed Al-Aradi that offers fresh frozen fruits and detox cubes that are preservatives and sugar-free, raised USD 40K from Hope Ventures and private investors.
Mahdi Taheri, Co-Founder, and CEO of Steel Masters, commented on the investment by saying: “Being a chef for 17 years, my co-founder and I started Steel Masters to meet the demand of BBQ lovers who are looking for the right equipment for the right price. We always had our eyes and efforts set on going regional, with Oman being our first
stop. The investment raised on Beban will enable us to further expand regionally at a faster rate.”
Also commenting on his investment, Mohammed Al-Aradi, Founder and CEO of Frozen Nutrition, shared: “Starting a business that caters to an underserved segment of society was key to me, which is why I am beyond excited to receive this investment through Beban. We will be developing Frozen Nutrition’s operations, increasing our
production of frozen fruits and detox cubes, and utilizing the expertise of Hope’s co-investors to mentor us through growth.”
Fajer Al Pachachi, General Manager at Hope Ventures, said: “Our investment in Steel Masters and Frozen Nutrition is an investment in Mahdi, Hussain, and Mohammed. These founders demonstrated true determination and knowledge of their businesses’ industries with a willingness and vision to grow and expand on a regional level.”
She further added: “Steel Masters has a competitive edge over the ready-made equipment market through its personalization and adherence to its clients’ precise needs and affordability, while Frozen Nutrition fills a gap in the local food and beverages market – and we are thrilled about our co-investment in both businesses with our co-investors who will strategically empower these businesses to scale.”
Episode 1’s investors’ panel consisted of Mrs. Roaya Saleh, Founder of Villa Mamas restaurants, Mr. Mohamed Al Aali, Managing Director of the United Enterprises Group of Companies, and Mr. Suhail Algosaibi, angel investor, and was moderated by His Excellency Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, who was also representing
Hope Ventures’ investments.
A new episode of Beban will air every Wednesday of this month. You can watch the next episode airing on the 11 th of January 2023, on Bahrain TV at 6 PM and on AlRai TV at 9:30 PM or anytime on the region’s first and biggest video-
on-demand platform, Shahid.
To stay up to date with all-things-Beban, make sure you follow the show’s accounts on social media @bebanme.
About Hope Ventures:
Hope Ventures is the investment arm of Hope Fund, a Fund established by the decree from His Majesty King Hamad bin Isa Al Khalifa and is governed and supervised by His Highness Shaikh Nasser bin Hamad Al Khalifa, Representative for Humanitarian Work and Youth Affairs, with the vision to support youth projects and initiatives. Hope Ventures invests in promising Bahraini businesses and strategically accelerates their growth internationally.
Continue Reading: https://www.gccstartup.news/featured/edtech-startup-riseback-powers-changemakers-2022-awards-series/