Almentor, an established Middle East and North African (MENA) digital learning startup, raised $6.5 million on 31st May 2021. The company revealed that it would channel the money towards the development of Arabic online content for professional and everyday use.
Partech, a Paris and San Francisco-based VC company, led the exercise. Sango Capital, Sawari Ventures and Egypt Ventures also took part.
Experts estimate that the e-learning market value will be about $325 billion by 2025. Online learning platforms like Almentor contribute to the industry’s growth as its latest quest to develop a platform for people to learn everyday Arabic shows. Arabic is a complex language to learn, with over 30 dialects.
Together, Dr Ihab Fikry and Ibrahim Kamel created Almemtor in 2016. They didn’t officially launch it until 2018. Today, Almentor has offices in Cairo, Saudi Arabia, and Dubai.
It offers top-notch curated content to millions of people. It intersects media, technology, and education. Top-rated experts create learning material in the form of high-quality videos, books, and free talks on the site. Its clients include government, blue chip, B2B and B2C companies.
Number of Rounds
Since its inception, the digital learning platform has done rounds worth $14.5 million.
Apart from the May 31st B series, worth $6.5 million, the company raised $3.5 million in the seed round in 2016. In 2019, it closed its A-series round with $4.5 million.
As a leading edutainment firm, the organization hopes to develop the industry in the entire region.
Cyril Colon, Partech’s general partner, shared that Ihab and Ibrahim are innovative and self-driven and pledged to continue supporting their company to achieve future growth.