Egyptian ed-tech startup Akhdar has secured a six-figure US dollar funding round from Saudi Arabia-based venture studio Value Maker Studio (VMS) to expand its presence in the Kingdom.
Founded in 2016 by Mohamed Osama, Akhdar offers more than 2,500 Arabic-language educational content in the form of audio and written books, book reviews, and podcasts, among others. Its app is used by 1.5 million users in 174 countries across the world.
VMS, meanwhile, is a venture studio that brings together a diverse range of talents, resources, and ideas to transform innovative concepts into thriving businesses. Its mission is to actively empower exceptional entrepreneurs, drive technological innovation, foster job creation, and secure a strategic foothold within the Saudi market.
The company is launching its “Bridge Programme” early next year, to help Egyptian tech startups seamlessly expand to Saudi Arabia. It is through this that it has also invested six-figure sums in SaaS-based e-commerce startup Awfar and ed-tech platform OBM Education.
“We are thrilled to announce the successful completion of our bridge round investment, led by VMS under the ownership of Moatz Abo Onuq. This strategic partnership will greatly support our expansion plans into the GCC region, with a particular emphasis on Saudi Arabia. Additionally, it will enable us to fuel our growth and further enhance our technology to effectively address the challenges faced by today’s learners,” said Mohamed Osama, co-founder and CEO of Akhdar.
Moatz Abonouq, CEO and founder of VMS, said Akhdar’s vision resonated with his company’s commitment to advancing education.
“We’re excited to support their strategic expansion, enhance technological capabilities, and foster partnerships in Saudi Arabia and the GCC. Empowering learners through innovative edtech solutions is a shared goal, and we look forward to the transformative impact ahead,” he said.