Ibtikar Fund Announces Seed Investment in Tawazon
Ibtikar Fund announced its newest seed investment in Tawazon, a mobile application offering Arabic-language meditations.
Tawazon, or “balance” in Arabic, offers guided meditations of different durations and for different audiences. Users log on, find a quiet spot, select a meditation of choice, ranging from breathing to mindfulness and relaxing before sleep.
As we all face unprecedented challenges and stressors, combined with limitations on how we can spend our free time, meditation can help us manage our emotions and reactions. Meditation has been proven to help reduce stress and anxiety, promote emotional health, and improve sleep and lengthen our attention span. Study after study has shown the positive benefits from daily meditation can include an increase in the “happiness” hormones in our body like serotonin and melatonin, improving our mood and outlook.
For founder, Suna Zoabi-Othman, the opportunity was obvious, “I had first-hand experience of how meditation had helped me become more balanced. I realized that many of us native Arabic speakers would prefer to meditate in our language, yet the Arabic meditation apps available offered only a mediocre product, at best. So, I brought together the best team I could to create Tawazon and help others find that balance which we all seek.”
For Ibtikar Fund, the opportunity is big. Meditation in the Arabic language remains a largely untapped market, while in other markets, meditation apps have proven to be great successes. The global market leader, Calm, is now valued at over USD 1B.
As Habib Hazzan, Managing General Partner explained, “We realize the need for meditation and mindfulness, especially during such trying times. We are investing in Tawazon because we see great potential in the product and the ability of the team to make their vision a reality.”
Ibtikar’s funding will help the Tawazon team finalize key features in the app and begin market testing.
The Tawazon app is available for download from the Google Play and Apple Store.
Careem’s acquisition was a defining moment for MENA’s Delivery & Transport industry, but what lies ahead? Find out more trends on one of the region’s top startup industries in our new 2019 MENA Delivery & Transport Venture Investment Report.