Jordan’s Telescope raises Seed funding to expand to UAE, Saudi Arabia

calendar  Date: 19/12/2022

Founded in 2019 by Moatasim Masalmeh, Telescope offers a range of content under multiple categories including art, entertainment and education, with over 1000 shows and video series and 2 million followers across the Middle East and North Africa region (Mena). It also caters to influencers and content creators looking to grow their online presence.

The funding will primarily be used to accelerate the startup’s expansion into Saudi Arabia and UAE as well as improve user engagement with the Telescope platform.

Press release 

Jordan-based Telescope has raised an undisclosed amount in seed investment from Select Venture Equity in UAE, where the investment agreement was signed recently in Dubai.

Founded in 2019 by Dr. Motasim Masalmeh in Amman, Telescope is a leader in media and tech, that positively influences society through entertaining, informing and educating media content.

According to Masalmeh, this investment will be used to expand Telescope operations in Saudi Arabia and the UAE, as well as improve engagement with Telescope influencers and customers through technology.

We aim to be the most prominent content creation incubator, building on the success we had in the last three years and state-of-the-art studios we built. Our technology front will take our content creation and distribution to another level.

Select Venture Equity’s Director, Mr. Amjad Mustafa, said, “A new world in media & content services is shaping up, powered by technology advancements recently appearing in the market space. In the Middle East, we spent a lot of time looking for a media content creation company with a free mind, liberal approach, which is ready for the next challenge. "We were impressed by the amount of talent, engagement and progressive thinking of Telescope team and their founders”.

Mr.  Amjad Mustafa added,” the pace of change in the media industry is too fast, for this reason, we must move rapidly with innovative solutions, which identify changing consumer behaviors and satisfy them with creative content on very intelligent, robust and attractive channels”. 

From his side, Dr. Motasim clarified that telescope has become a market leader in the media tech industry, with 1000+ produced shows and video series, and 2M+ followers in Mena. It has also helped 100+ influencers and content creators to grow their online platforms and content.

Our technology will now make this very scalable. Soon affluent influencers, as well as successful brands and businesses will realize the value we bring to the market.

Source: www.wamda.com (News Link)