Thahab Perfumes Secures $400k Investment on Beban Season 3

Thahab Perfumes Secures $400k Investment on Beban Season 3

By Press Release, 01 February 2024

Hope Ventures, the investment arm of Hope Fund and producer of Beban TV show, co-invests USD 400k in Emirati business Thahab Perfumes, alongside private sector investors Dr. Khalid Altawil, Basel AlAbdulkarim and Suhail Algosaibi on the fourth episode of Beban Season 3, which aired on the region’s first and biggest video-on-demand platform ‘Shahid’ for free, Bahrain TV, SBC Channel, AlRai TV, Abu Dhabi TV, and Oman Culture TV.

During the fourth episode, Thahab Perfumes, an Emirati house of luxury fragrances and perfumery that fulfills the need for exclusive and genuine Oriental perfumes that would appeal to both men and women alike, founded by Ahmed Alremeithi, raised USD 400k from Hope Ventures and private sector investors Dr. Khalid Altawil, Basel AlAbdulkarim and Suhail Algosaibi.

Ahmed Alremeithi, General Manager of Thahab Perfumes, commented on the investment by saying: “I started Thahab Perfumes three years ago to pursue my passion for perfume. We have reached many milestones since then, and in 2020, we customized the world’s strongest perfume pump to strengthen our product. Today, after our participation in Beban Season 3, we are thrilled to have the entirety of the panel of investors, which is a testament to the validity of our products. We look forward to utilizing their wealth of knowledge to grow and expand Thahab to be a household name in the region.”

Commenting on their co-investment in Thahab Perfumes, Fajer Saleh Al Pachachi, General Manager at Hope Ventures, shared: “I am thrilled to announce Hope's co-investment, alongside the entire panel of investors of this Beban episode, in Thahab Perfumes, a UAE-based fragrances retailer that has consistently achieved strong traction in the market since its inception. With a solid track record of profitability and a passionate founder driving the company forward, Thahab Perfumes has become a standout player in the industry.”

She added: “This investment reflects our confidence in Thahab Perfumes' ability to successfully expand its business model to the rest of the GCC countries, allowing a wider audience to experience the fragrances that have garnered a strong endorsement from this Beban episode's investor panel.”

Saudi investor Mr. Basel AlAbdulkarim commented on his part: “As a second-time Beban investor, I am thrilled to co-invest alongside Hope in Thahab Perfumes. Their proven traction and exceptional growth potential fuel my excitement as an investor, and I am committed to supporting their continued success and expansion.”

The episode witnessed 4 eager entrepreneurs from across the GCC pitch to a panel of investors for the opportunity to seize investment and business opportunities.

Investors on the panel comprised avid investors from the private sector, including Hope Ventures, Basel AlAbdulkarim, Founder and CEO of We Energy, Suhail Algosaibi, Chairman of Tenmou, and Dr. Khalid AlTawil, a Partner at Select Ventures Dubai and a Super Angel Investor from Saudi Arabia.

It is noteworthy to mention that the Beban TV show is the region’s 1st private-public investment platform through its formed partnerships with Khalifa Fund for Enterprise Development (UAE), the SME Development Authority (Oman), GFH Capital (KSA), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labor Fund Tamkeen (Bahrain).

Beban season 3 was filmed in the Middle East’s newest exhibition and convention center, Exhibition World Bahrain (EWB), and showcases 41 businesses from across the MENA region as they pitch in front of a panel of regional, reputable investors for equity investment and strategic business development opportunities that can accelerate the growth of these businesses into new markets.

A new episode of Beban will air every Wednesday of this month. You can watch the next episode airing on January 31, 2024, on Bahrain TV at 6 PM (+3GMT), Oman TV Cultural at 9:10 PM (+3GMT), AlRai TV at 9:30 PM (+3GMT), SBC Channel at 10 PM (+3GMT), Saturday at 5:30 PM (+3GMT) on Abu Dhabi TV, or anytime on Shahid.

Beban Season 3 recognizes its Country Partners, Khalifa Fund for Enterprise Development (UAE), the SME Development Authority (Oman), GFH Capital (KSA), Zain Kuwait and Sabah Al Ahmad Center for Giftedness and Creativity (Kuwait), and the Labour Fund Tamkeen (Bahrain) and sponsors, Gulf Air, Asia Jewellers, Ahlan App, AlZayani Motors, Exhibition World Bahrain, Kuwait Finance House – Bahrain, TRACCS Bahrain, Bapco energies, and Gulf Media International for their affirmed commitment to empowering regional entrepreneurs and accelerating their growth through investment, knowledge, and access to business opportunities.

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