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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Why is Japan s Samurai Incubate interested in Egypt?
Last week, Japan-based venture capital firm Samurai Incubate closed its second $18.6 million Africa fund and for the first time, the fund will be deployed in Egypt. The news follows the announcement of two new funds in Egypt from Algebra Ventures and Sawari Ventures and while Samurai’s foray is a small one, it nonetheless highlights global interest in the country’s startups.
Founded in 2008 by Kentaro Sakakibara, Samurai Incubate has invested in 140 companies in Japan. In July 2018, it began investing in Africa by establishing subsidiary, Leapfrog Ventures (now Samurai Incubate Africa), which has so far invested in 26 startups across Africa.