iSchool, an Egyptian ed-tech startup, has raised US$4.5 million to expedite its plans to expand into six more countries in the MENA region.
Irish venture capital firm VentureWave Capital led the round of funding, which also included UK firm OneStop Capital, US firm Webit Investment Network, and a venture capital subsidiary of the Dubai Integrated Economic Zones Authority called Oraseya Capital.
Mohamed Algawish, Mustafa AbdelMon’em, Ebrahim Youssef, and Mohamed Nabil founded iSchool in 2018 to provide coding education to pupils from 6 to 18 years old through live, gamified classes.
Subjects covered include artificial intelligence (AI), virtual reality (VR), web development, app development, game development, and more.
Working with 35 schools, offering technical training and computer science labs, iSchool has grown to include over 26,000 active learners, over 100,000 training hours, and over 10,000 lines of code written by students. This growth has allowed the school to manage national-level initiatives in Egypt, Saudi Arabia, and the UAE.
“We are delighted to be joined by several vastly experienced and strategic investors, whose expertise will not only play a vital role ahead of our future expansion but also in our current activities, managing national-level initiatives in Egypt, Saudi Arabia, and the United Arab Emirates,” said Algawish.
With the latest amount of funding, iSchool will be able to move faster with its expansion plans into six more MENA countries, boost its presence in Ireland, expand globally, and build new staff in Dublin.
The online coding platform will also be able to scale technologically, and the service for its gamified online classroom software will be ready to expand throughout Sub-Saharan Africa.
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