UAE-based edtech Thiqa Tutoring has raised a $300,000 investment from Hope Ventures, the investment arm of Bahrain’s Hope Fund, alongside private sector investors Mashael Fairooz, founder of JEO Capital, and angel investor Dr. Lamya Mahmood, the CEO of Dr. Lamya Group, during Beban TV show.
Founded in 2022 by Hamdan Karmustaji and Omar Bakri, Thiqa Tutoring offers tutoring services across the UAE with a focus on quality supervision, end-to-end management, and personalised consultations for students.
Hamdan Karmustaji, co-founder and CTO of Thiqa Tutoring, commented on their investment by saying: “Our journey with Thiqa Tutoring started modestly with a small team and significant challenges. 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.”
This infusion of capital will serve as a catalyst for Thiqa Tutoring’s expansion and enhance its position in the market.
On his part, His Excellency Aymen bin Tawfiq Almoayed, Chairman of Hope Fund, emphasised that as the region’s first private-public investment platform, Beban provides a platform that showcases entrepreneurial talent from across the region and bridges the gap between promising entrepreneurs and investment resources, be it through strategic capital or business opportunities.
This episode brings a great example with Thiqa Tutoring, an Emirati EdTech platform, successfully fundraising from three investors, including experts in the education sector. – this infusion of capital and expertise will serve as a catalyst for their expansion and further success in the market, exemplifying the power of private-public partnerships in driving entrepreneurial growth within the region.
The Chief Executive Officer of KFED, Her Excellency Alia Abdulla AlMazrouei, commented on the occasion: “We are thrilled to announce our high expectations for the participation of Khalifa Fund entrepreneurs. This collaboration not only showcases our commitment to innovation but also underscores our belief in the immense potential of our local business community. Throughout this season, we proudly introduced five nominated projects by Emirati entrepreneurs, each representing the epitome of visionary thinking. 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.”