The funding will primarily be used to accelerate the Telescope's expansion in Saudi Arabia and the UAE.
Jordan-based content creation incubator 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 Moatasim Masalmeh, Telescope offers a range of content under multiple categories including art, entertainment and education, with over 1000 shows and video series and 2m followers across the Middle East and North Africa region (MENA). It also caters to influencers and content creators looking to grow their online presence.
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.
In a statement, the company said: “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.”
Amjad Mustafa, Select Venture Equity’s Director, added: “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, a liberal approach, which is ready for the next challenge.
“We were impressed by the amount of talent, engagement and progressive thinking of the Telescope team and their founders.”
Amjad Mustafa stated: “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 behaviours and satisfy them with creative content on very intelligent, robust and attractive channels.”
