- Bahrain-based direct-to-consumer coffee and tea brand Dallaspresso, has raised $212,000 from Hope Ventures, the investment arm of Hope Fund, following its participation at an investor showcase pitch session aired on the Bahraini TV reality show Beban.
- Founded in 2021 by Ali Mohsin, Dallaspresso sells its own coffee capsules via its website.
- With the fresh funding, Dallaspresso will be able to sell its products in large retail brands across Bahrain.
- The startup also has operations in Kuwait and Oman.
Source: Startup MGZN
Hope Ventures, the investment arm of Hope Fund, jointly invested in Dallaspresso, a Bahraini business that specializes in localized coffee and tea capsules, in a USD 212,000 investment round that took place on the Food and Beverage-themed second episode of Beban.
Dallaspresso has a vision to expand its business regionally with its products already being sold in Kuwait and Oman. The business fills a gap in the market as it develops unique capsules with coffee flavors ranging from Arabic to Turkish and European as well as popular drinks including karak, saffron and many others.
Commenting on the joint investment, Mr. Ali Mohsin, Founder of Dallaspresso, said: “As a long-time coffee lover, it was important to launch a business that exhibited a unique Arabic flavor profile. Dallaspresso has garnered the attention of investors as they also believe in the potential of this large and promising market. The investment will enable us to take the business towards greater success and achieve our goal of reaching global markets.”
Hope Ventures General Manager, Fajer Alpachachi, said: “Ali showcased strong implementation capabilities as he was able to turn his passion into a successful business with high potential for scalability through distribution and export. Catering to a growing industry in the region, Dallaspresso meets to the existing need for a facilitated coffee-making experience that can be easily used with any device. Dallaspresso now has the opportunity to expand both regionally and globally, while also growing its reach within Bahrain utilizing our co-investors’ expertise to contribute towards marketing and distribution.”
Alpachahi added, “Beban gave Hope Ventures the opportunity to identify local, ambitious founders with unique businesses that are ready to grow exponentially on an international level. We are on an ongoing mission to find similar founders and invest in them towards global success.”
The investor panel on the food and beverage episode featured Mr. Khalid Al Amin, Mr. Mohammed Al Aali, Mr. Hadi Diwani and His Excellency, Aymen Almoayed, Minister of Youth and Sport Affairs and Chairman of Hope Fund, who joined the investment panel as a member and investment representative for Hope Ventures.
The second episode also showcased promising businesses from the sector including Popilicious, offering self-decorating candy kits, and Hamada Bee, a business specializing in producing high quality natural honey. The businesses received support in the form of opportunities to showcase their products in City Centre Bahrain, Lulu Hypermarket, and Midway Supermarkets.