Hope Ventures, the investment arm of Hope Fund, and investors from the private sector have co-invested in Lumofy, an edtech platform that provides employee training and targeted capacity-building, raising a $500,000 investment round on the first episode of Beban.
The platform received considerable interest from the panel as a result of its rapid growth within 18 months, securing large regional corporations as clients, such as GPIC, Bahrain National Holdings and Walaa Insurance. The company has also partnered with top international training content provider Open Sesame, in addition to designing its own competency-based learning material which increases the platform’s value.
Commenting on this new partnership, Lumofy founder, Mr Ahmed Faraj, said: “We are on a challenging mission as we strive to provide unique training models to fulfil organisational needs and ensure learning progression. This investment will open doors for Lumofy to develop even further, giving it greater value and creating more opportunities for the platform to reach its full potential.
I am very pleased to have received such immense support from all members of the panel as we move towards achieving our mutual goals of scaling and growing the business towards regional and global success.”
Hope Ventures is joined in their investment by Saudi angel Investors, Mr Abdulrahman Al Jiffry and Mr Yasser Al Ghamdi, in addition to JEO Capital represented by Founding Partner, Ms Mashael Fairooz.
