UAE's almentor raises $10M in a pre-Series C funding round

UAE based edtech company almentor has raised $10 million in Pre-Series C funding led by e&capital. Existing investors like Sawari Ventures, Egypt Ventures, Partech, Endure Capital, and Sango Capital, also participated in the round.

almentor will use the funds to increase its investments in the business-to-consumer (B2C) segment and expansion into Saudi Arabia, the company said in a statement. As per the startup, its target is a market of 400 million Arabic speakers who do not have access to educational content.

Recently, almentor made several key hires like Sonia Lekhal, who was Chief Marketing Officer at OSN, VP of Digital Marketing at Emirates and Regional Marketing Director at Souq.com, Adel Khalil who was VP Engineering at Talabat.

Others include Sally Metwally, who was with ITWORX, Misr El Kheir Foundation and TIEC, Tharwat Ibrahim, who was at ExxonMobil Egypt, and Ahmed Faysal, the Chief Content Production Officer.

A key milestone for almentor will be to empower over 10 million learners, Dr. Ihab Fikry, co-founder and CEO of Almentor, and Mr Ibrahim Kamel, co-founder and COO, said in a statement.

Founded in 2016, almentor has 950 mentors on board till date who have made over 1000 online courses for corporates, government bodies, and individuals. It has launched monthly and annual subscription plans where the learners get unlimited access to a library of over 700 courses on topics, the statement read.

e& capital's investment into almentor is towards capitalise the economic opportunity offered by the region, Eddy Farhat, Vice President of the firm said in a statement.