fbpx

Hope Ventures Invests USD500,000 in Omani Startup Innotech

Hope Ventures Invests USD500,000 in Omani Startup Innotech

•  Hope Ventures’ Strategic Investment in Innotech: Hope Ventures, the investment arm of Hope Fund and the producer of Beban TV show, co-invested $500,000 in Omani startup Innotech during the third episode of Beban Season 3. 

•  Innotech’s Focus on Construction Automation: Innotech, the featured Omani startup, specializes in automating the construction process using additive manufacturing. 

•  Enthusiastic Investor Support and Entrepreneurial Growth: Entrepreneurs like Othman Al Mandhari, Founder and CEO of Innotech, expressed excitement about participating in Beban Season 3, highlighting the unique opportunity it provides for fundraising and negotiation with investors. 

Hope Ventures, the investment arm of Hope Fund and producer of the Beban TV show, co-invested $500,000 in Omani startup Innotech, according to media reports. 

The step was a significant investment move that showcased on the third episode of Beban Season 3. This co-investment involved private sector investors Areej Mohsen Darwish and Lamya Mahmood. The episode aired on the region’s prominent video-on-demand platform ‘Shahid’ and other major TV channels.

Innotech, the Omani startup featured in the episode, focuses on automating the construction process through additive manufacturing to reduce costs, accelerate timelines, and decrease carbon emissions in the construction industry.

Othman Al Mandhari, Founder and CEO of Innotech, expressed his excitement about participating in Beban Season 3, stating that it provides a unique opportunity for entrepreneurs to experience fundraising and negotiation with investors.

Fajer Saleh Al Pachachi, General Manager at Hope Ventures, shared her enthusiasm for investing in Innotech, praising the innovative technology that reshapes the construction landscape. She emphasized Hope’s investment in both the business and its founder, Othman, who demonstrates passion, ambition, dedication, and experience.

Areej Mohsin Darwish, Chairperson of Mohsin Haider Darwish LLC, Automotive, Construction Equipment, and Renewable Energy (ACERE) Cluster, expressed delight in co-investing in Innotech, recognizing its potential for success and the opportunity to expand their product portfolio.

Lamya Mahmood, angel investor and CEO of Lamya Group, expressed her thrill about participating in Beban and supporting Innotech’s growth journey, emphasizing her interest in innovative businesses solving real-life challenges.

The Beban episode featured four entrepreneurs from across the GCC pitching to a panel of investors for investment and business opportunities. The show serves as a unique private-public investment platform, partnering with entities like the Khalifa Fund for Enterprise Development, SME Development Authority, GFH Capital, Zain Kuwait, and the Sabah Al Ahmad Centre for Giftedness and Creativity.

Beban Season 3, filmed at Exhibition World Bahrain, showcases 41 businesses pitching to a panel of regional investors. The show recognizes country partners and sponsors committed to empowering entrepreneurs and fostering growth through investment, knowledge, and access to opportunities. 

If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.