Egypt-based edtech startup Akhdar has raised six-figure seed funding investment from EdVentures, a venture capitalist firm that invests in startups that focus on education, culture, and cutting edge learning solutions.
Among other things, Akhdar will utilize the funding to expand and furnish its current library with new content categories and topics, refine its gamification model for e-learning as well as upgrade its technologies.
Accordingly, the founder of EdVentures, Dalia Ibrahim, revealed that the firm is on the lookout for edtech startups to support and nourish.
She also disclosed that investing in Akhdar provides them with an opportunity to enrich the readers’ community, ensuring that learning is both educative and fun.
“Akhdar will use it to enhance its online application through the usage of gamification and other new Edtech features to provide more engaging content and an enhanced user experience. We will also be working closely with the team to further expand their services in order to cover a wider range of users.”, she said.
Founded in 2017, EdVentures, an arm of Nahdet Misr Publishing Group, is a venture capital that specializes in Education, Culture, and Innovative Learning Solution, investing in startups which offer products and/or solutions in similar fields within the Arab world.
The edtech startup, established in 2017 by Mohamed Osama, primarily serves as a book summary application. Evolving as a Youtube channel, the startup has grown to become a mobile app that consists of over 100 video summaries for audio and printed books across 16 different categories.
Also, Akhdar caters to young learners by providing age-appropriate content that they can easily engage with. To this end, it has created an innovative solution that not only achieves this but promotes cultural education for young learners as well.
Commenting on the objectives and direction in which the startup aims to tilt and expand its business model, the Founder of Akhdar, Mohamed Osama said,
“Akhdar started with the aim of providing simplified summaries and information about different books for people who didn’t have time to read. Back then, we didn’t have a very clear vision of what we wanted to achieve.
We worked very hard with the limited resources we had to build our platform and to be able to continue presenting useful content.
Now, we are quite excited about the coming period, our new partnership with EdVentures will add a lot to our business especially with Nahdet Misr’s extensive experience in education and content creation.”
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