Almentor Raises $10m Funding To Accelerate Growth
The Egyptian ed-tech startup has created over 1,000 online courses for individuals, corporations, and government entities. It combines a personalized learning experience with high-quality Arabic content.
Almentor, the leading online video learning platform in Arabic, has raised a US$10 million pre-Series C round of funding to accelerate its growth towards its goal of serving 10 million learners in the MENA region.
With a monthly or annual subscription, learners get unlimited access to a library of over 700 courses on topics as diverse as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
The company aims to serve 10 million learners across the MENA region, and with that in mind, it has now banked a US$10 million pre-Series C round led by e& capital, the tech investment arm of e&. e& capital joins existing investors Partech, Sawari Ventures, Egypt Ventures, Sango Capital and Endure Capital. In particular, Almentor will use the funds to increase its investment in the B2C segment and to expand in Saudi Arabia.
Dr Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder and COO, said: “Empowering ten million learners is a key milestone in almentor’s broader vision of creating hope and development opportunities for the people in MENA. We are proud and excited to partner with an institution such as e& to impact Almentor’s journey further.”
Eddy Farhat, vice president at e& capital, said: “Our investment in Almentor aims to capitalize on this economic opportunity while driving tangible educational impact in our fast-growing region. We believe that Almentor’s personalized learning experiences and high-quality Arabic content will be instrumental in achieving this goal. We are impressed with the experience of the founding team and the fresh perspective that the new senior hires bring on board, and we will collaborate with them to support their vision and help them realize their aspirations.”