The investment is capitalising on surging global demand for meditation apps, and an untapped Arabic-speaking market.
Tawazon (‘balance’ in Arabic) is a mobile application offering guided meditations, which - though representing a large market internationally, with popular apps like Calm and Headspace - remains an untapped market for the Arabic-speaking world.
“I had first-hand experience of how meditation had helped me become more balanced,” says founder Suna Zoabi-Othman. “I realised 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.”
Ibtikar Fund is capitalising on a huge opportunity. The global market leader, Calm, is now valued at over $1 billion. In today’s world, with much of the global population both locked down due to the coronavirus, meditation apps are reporting massive surges in downloads and usage, with many launching new features and even partnering with governments to meet demand.
“We realise 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.”
The Tawazon app is available for download from the Google Play and Apple Store.
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