Manama, Feb. 28 (BUS): Hope Ventures, the investment arm of Hope Fund, has invested together with the private sector in Beto, a furniture company that specializes in modern, minimalist and affordable designs, in a $106,000 investment round made on the last episode. From his program Biban.
With a vision to expand beyond Bahrain, the company offers a wide range of furniture that combines elegance, comfort, functionality and affordability, while embracing a consumer first mindset. Beto uses wood and iron to make parts including cabinets, TV units, and more.
Hope Ventures has offered a co-investment for Beto Furniture along with Khaled Al Hammadi of Dividend Gate Capital.
In addition, Hope has partnered with BMMI to support the business through regional distribution as part of its ongoing goal to enter regional markets. Beto was also invited to join the Entrepreneur Organization Accelerator Programme, presented by Mohamed Al Aali.
“Given the recent boom in minimalist furniture, Beto is designed to meet the needs of customers who want to stay within their budget and purchase high-quality pieces made from durable materials,” said Ahmed Hamid, founder of Beto.
“This investment from Hope Ventures and Dividend Gate Capital will open the doors for our business to grow not only in Bahrain but gain regional interest as we continue to expand our product line.”
‘They identify companies with high potential and scalable led by promising entrepreneurs and Beto is an example,’ said General Manager of Hope Ventures, Fajer Alpachachi, at Hope. “
“The idea of the founders of the business quickly took off, and it was a true testament to the resilience of Bahraini entrepreneurs. By participating in Beban, Beto was able to gather investment from strategic investors, and gain a unique opportunity to develop the business beyond the current market to branch out regionally.”
“Beban opens multiple doors of opportunity for business owners, and through the offer, Beto has been accepted into the Entrepreneur Organization Accelerator program and as a result will have direct access to expert mentors with a proven track record of success in similar industries. This will ensure that entrepreneurs receive ongoing support As they grow and expand their businesses towards regional and global success.”
The Investors Committee in the Industrialization Episode, which is the last episode of the first season of Biban, consisting of Khaled Al Hammadi, Muhammad Al Aali, and Sami Abbasi.
The Beban Show took place over the course of this month, showcasing several sectors including technology, food and beverage, sports and manufacturing. The program gave companies the opportunity to present their projects and undergo negotiations on the various investment opportunities that introduced Bahrain to the world of entrepreneurship.
FKN