This new collaboration between the two entities started with Tenmou investing an undisclosed amount in Unipal as a part of the fundraising round mediated by Flat6Labs Bahrain. The signing of the contract was organized virtually on May 10.
Ryaan Sharif, Managing Director of Flat6Labs Bahrain said: “Our strategic partnership with Tenmou has given our startups priority in being assessed for follow-on investments and has enabled us to further showcase our portfolio of companies. This is the third time Tenmou has invested in one of our startups, and we look forward to celebrating more.”
Nawaf Al-Koheji, CEO of Tenmou said: “We’re excited about what the next months hold for Unipal, they have been actively and innovatively navigating the market during this testing time and that’s what made the young founders standout for us. Our relationship with Flat6labs has helped in connecting us with higher potential startups and is increasingly becoming our main source of pipeline and we look forward to more success stories in the future.”
For the uninitiated, Unipal is an online platform that provides students with a unique digital ID that can be used to retrieve customized offers and discounts on various products and services.The platform was founded by Ali Al-Alawi and Ali Al-Shaer with the vision of helping the Kingdom’s students improve their everyday lifestyle.
Reacting to Tenmou’s decision to invest in the startup, Unipal co-founder and CEO Ali Al-Alawi, said: “As Tenmou shares Unipal’s understanding of the essential need for an established student-centric platform in the region, their support will help us in moving forward to making Unipal the best student offering platform.”
It’s noteworthy that Tenmou’s investment focus with startups isn’t exclusive for graduates of acceleration programs. In fact, the majority of their recent investments are actually graduates of previous acceleration programs.
It’s quite exciting to witness collaborations between two important ecosystem entities in Bahrain (Tenmou and Flat6labs Bahrain), as they contribute greatly towards the growth of the ecosystem.