Almentor, Egyptian Ed-tech Startup Secures $10m Funding to Promote Growth
Almentor, the top Arabic-language online video learning platform, has acquired $10 million in pre-Series C fundraising from investors to help it develop faster and reach its target of servicing 10 million learners in the MENA area.
Since its founding in 2016, almentor has collaborated with more than 950 eminent professionals to produce more than 1,000 online courses for people, businesses, and governmental organizations. It blends personalized instruction with top-notch Arabic content.
Students have unlimited access to a library of over 700 courses on subjects as varied as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media with an option of a monthly or annual subscription.
The startup has recently secured a US$10 million pre-Series C round sponsored by e& capital, the tech investment arm of e&, with the goal of serving 10 million students throughout the MENA region. Together with Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital, e& Capital is now a shareholder. Aimentor will use the money in particular to expand in Saudi Arabia and strengthen its B2C investment.
“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 very proud and excited to partner with an institution such as e& to create further impact in almentor’s journey,” said Dr Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder and COO.
Vice President at e& Capital Eddy Farhat stated that he thought the way education is provided and received was at a turning point.
“Our investment in Almentor intends to take advantage of this business potential and have a real impact on education in our rapidly expanding region. Almentor’s personalized learning opportunities and top-notch Arabic content, in our opinion, will play a key role in helping us do this. We are impressed by the original team’s expertise and the new senior employees’ innovative viewpoint, and we will work with them to support their vision and help them realize their goals, the man stated.
