Hope Ventures invests $1M in Saudi-based Parcel to boost on-demand delivery services

Hope Ventures, the investment arm of Hope Fund and producer of Beban TV show, has co-invested $1 million in Parcel, a logistics solution that provides on-demand delivery services, on the eighth episode of Beban Season 2.

Through Parcel’s technology platform, businesses and aggregators can easily assign drivers to deliver orders to customers while managing driver payments, measuring performance, and tracking deliveries.

The startup plans to use the investment to expand regionally into KSA and Kuwait and further develop its user-centric solution, which also enables merchants to take their business online and reach customers anywhere. Beban Season 2 is filmed in Al Areen Palace and Spa by Accor. The show features promising entrepreneurs pitching their businesses in front of a panel of regional investors for immediate investment and business opportunities.

Beban aims to showcase promising entrepreneurs and matchmake them with strategic investors to accelerate their growth and expansion into international markets. The eighth episode featuring Parcel can be streamed on the region’s first and biggest video-on-demand platform, Shahid, for free or watched on Bahrain TV and Alrai TV. A new episode of Beban will air every Wednesday of this month.

The investment round was joined by Jahez, Saudi’s unicorn, Ex-founder of Carriage and current Founder and CEO of Cari, Mr. Abdulla Almutawa.