AKHDAR, an Egyptian Edtech startup, has received six-figure US dollar funding from Saudi Arabia-based venture studio ”Value Maker Studio (VMS)” to expand its operation in the Kingdom.
AKHDAR, an innovative edtech company, provides a one-of-a-kind service in the form of Arabic audiobook summaries.
Mohamed Osama founded Akhdar in 2016, providing over 2,500 Arabic-language educational resources in the form of podcasts, written and audiobooks, and book reviews, among other things.
The app has 1.5 million users in 174 countries worldwide.
Users can easily and quickly consume instructional content by accessing brief 15-minute audio summaries of their favorite books using the AKHDAR platform.
Mohamed Osama, co-founder and CEO of AKHDAR said: “We are thrilled to announce the successful completion of our bridge round investment, led by VMS (Value Makers Studio) under the ownership of Moatz Abo Onuq. This strategic partnership will greatly support our expansion plans into the GCC region, with a particular emphasis on Saudi Arabia. Additionally, it will enable us to fuel our growth and further enhance our technology to effectively address the challenges faced by today’s learners.”
Moatz Abonouq, CEO and Founder of VMS Said: “AKHDAR’s vision resonates with our commitment to advancing education. We’re excited to support their strategic expansion, enhance their technological capabilities, and foster partnerships in Saudi Arabia and the GCC. Empowering learners through innovative edtech solutions is a shared goal, and we look forward to the transformative impact ahead.”
The new round of funding will go towards helping Akhdar realize its goals for expansion in Saudi Arabia.
Read more on Tech Gist Africa:
MNT-Halan, an Egyptian fintech company, secures $130 million in funding for securitization
Almouneer, an Egyptian healthtech company, has raised $3.6 million in a seed round
OBM Education, an Egyptian ed-tech startup, obtains six figures in funding