almentor raises $6.5 million Series B round
Dubai-based video e-learning platform almentor, has raised $6.5 million in a Series B funding round, led by Partech, with participation from Sawari Ventures, Egypt Ventures and Sango Capital. This brings the total investment raised by almentor to date to $14.5 million.
Founded in 2016 by Ihab Fekry and Ibrahim Kamel, almentor offers an exclusive catalogue of training courses and expert talks. It leverages more than 80 enterprise partnerships across the Middle East and North Africa (Mena) region, and has so far delivered over two million learning experiences.
Press release
almentor.net, the leading video e-learning platform in the MENA region, has announced raising $6.5 million in series B Funding. Partech led this financing round, with the participation of Sawari Ventures, Egypt Ventures and Sango Capital, thus bringing the total financing that the company has garnered since its inception to $14.5 million.
Alexander O. Onukwue
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Almentor, a video-based online learning platform for the Middle East and North Africa, has raised $6.5m in a Series B round led by Partech from its Africa Fund.
The startup was founded in 2016 when Ihad Fikry and Ibrahim Kamel decided there was a need to cater to the learning needs in the MENA region that were not provided by other platforms.
âWe live in a region with a population of 400 million-plus people but 90% of them cannot learn properly in any other language but Arabic,â Ihab Fikry, Almentorâs co-founder and CEO, says to TechCabal.
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It comes at a time when deal flow and investment in the country is rising. In the first quarter of this year, 34 Egyptian startups raised $22 million, double the amount raised by 24 startups in the fourth quarter of 2020. These two new funds are likely to further invigorate the ecosystem by providing much-needed investment for the country s startups.
“We are super excited about the growth of the entrepreneurship space in Egypt,” says Karim Hussein, managing partner at Algebra Ventures. “We ve made 21 investments out of the initial fund and we re seeing remarkable growth with some of our more portfolio businesses reaching significant market caps and significant recurring revenues. As we see today, in our pipeline of entrepreneurs and opportunities, we realised that we need to double down more on more similar opportunities.”
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