UAE-based Edtech Thiqa Tutoring has raised a $300,000 investment from Hope Ventures. Hope Ventures, located in Bahrain, is the investment arm of Bahrain’s Hope Fund. The educational technology platform has also received support from private sector investors such as Mashael Fairooz, founder of JEO Capital, and angel investor Dr Lamya Mahmood, the CEO of Dr Lamya Group, during the Beban TV show. 

Thiqa Tutoring offers tutoring services across the UAE was established in the year 2022 by Hamdan Karmustaji and Omar Bakri. During the seventh episode of the reality TV show which featured an Entrepreneurial theme in this particular episode Hope Venture and Beban both announced their co-investment in the Edtech platform Thiqa Tutoring.

Thiqa Tutoring mainly focuses on quality supervision, end-to-end management, and personalised consultations for students. The educational platform connects students and tutors while managing, and facilitating the entire learning process with a full dedication to providing learners with a unique learning experience that meets their needs. Currently, the startup has marked its presence in the four major cities of the region: Abu Dhabi, Dubai, Sharjah, and Al Ain.  

Hope Ventures is an investment firm that solely focuses on those companies which are innovative yet adaptable and firmly believes in the commitment to building value with forward-thinking founders who revolutionise their respective sectors. Only in such companies will they invest. As a result, Hope Ventures not only offers these companies strategic capital but also accelerates the growth of its portfolio companies into new markets through its expanse of resources of private and public partners as well as a regional network of industry-expert mentors.

The co-founder and CTO of Thiqa Tutoring, Hamdan Karmustaji spoke regarding the investment of Hope Ventures, saying that the journey of Thiqa Tutoring began with a modestly small team and significant challenges. He expressed how the TV show Beban gained them the support of 3 other investors. He said, “Today, just 3 months after filming the episode, Beban (doors) opened to us with the trust of 3 investors. The excitement propelled us to where we are now, with our team exceeding 100 employees. We remember our past with love and pride; the journey has been and continues to be challenging, and we are grateful for every moment of despair and every challenge we have overcome. We are proud of our positive impact on our students and teachers. We are full of Thiqa (confidence) in continuing our role in redefining private tutoring through quality and innovation.”

Chairman of Hope Fund, His Excellency Aymen bin Tawfiq Almoayed, particularly quoted that Beban being the first private-public investment platform in the UAE, allows a platform to showcase entrepreneurial talent from across the region. Not only that, it narrows the gap between potential entrepreneurs and investment resources, either through suitable business opportunities or strategic capital. 

The seventh episode showcases a great example with the educational platform Thiqa Tutoring raising their funds from three investors which includes an expert from the educational field. Thiqa Tutoring will benefit from both ways, i.e., in the expertise as well as the capital fund. The combination of these two will further propel their growth and expansion in the market, representing the power of public-private partnerships in facilitating entrepreneurial growth across the region. 

On the other hand, Beban partnered with Abu Dhabi’s investment firm, Khalifa Fund for Enterprise Development as the Emirati Country Partner. Her Excellency Alia Abdulla AlMazrouei, the CEO (Chief Executive Officer), shared her thoughts regarding this collaboration by saying that the company is thrilled to join hands with Beban which was beyond their expectations. The forthcoming collaboration between these two firms does not just showcase the commitment to innovation but also underscores the belief in the ever-growing potential of the local business community. Throughout the collaboration season, the firms have strategically lined up five projects by Emirati entrepreneurs each of which represents the the peak of visionary thinking. She said, “These outstanding innovators from the UAE progressed to showcase their ventures to a distinguished panel of regional investors on television, captivating millions of viewers. We look forward to seeing our entrepreneurs’ sustained success and expansion of this esteemed platform.”

It is significant to highlight the fact that Beban is the first private-public investment platform in the region via collaborators such as the Khalifa Fund for Enterprise Development from UAE, the SME Development Authority (Small and Medium Enterprises Development Authority) from Oman, GFH Capital (Gulf Finance Capital) from Saudi Arabia, Zain Kuwait and the Sabah Al Ahmad Center for Giftedness and Creativity from Kuwait, and the Labor Fund Tamkeen from Bahrain. 

The third season of the TV show Beban was filmed in the Middle East’s newest exhibition and convention centre, Exhibition World Bahrain (EWB). Around 41 businesses spanning across the MENA region were showcased in the show. All the businesses pitched in front of a distinguished panel of regional, reputable investors for equity investment and strategic business development opportunities that expedite the expansion of these companies into new markets. 

A new episode of Beban will be released and aired every Wednesday of this month. The next episode will be aired on the 28th of February 2024. The telecast can be watched on Bahrain TV at 6 PM (+3GMT), AlRai TV at 9:30 PM (+3GMT), SBC Channel at 10 PM (+3GMT), Oman TV Cultural at 9:10 PM (+3GMT), Abu Dhabi TV at 5:30 PM on Saturday, or anytime on Shahid.