Bahrain’s first business angels company, Tenmou has increased its investment in Unipal, the region’s biggest student benefits app, and entered into 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.
The re-investment in Unipal is to strengthen the operating model, boost the work team, and extend the company, according to a statement released by Tenmou.
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 percent of the student population, as they have helped students save over $100,000 and the value they provide to Bahrain and students not only locally but regionally is huge.
“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. Tenmou’s investment committee selected these companies after meetings with many startups that have pitched to the company and discussed their investment plans.”
“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,” added Mr. Al Koheji.