Educational technology is advancing at a rapid pace, with innovative startups like Akhdar leading the charge. Founded in 2016, Akhdar started as a YouTube channel and has since grown into a platform with over 2,500 Arabic-language educational content items, such as audio and written books, book reviews, and podcasts.
Now, Akhdar has recently secured a six-figure USD funding round from Saudi Arabia-based venture firm Value Maker Studio (VMS). This strategic partnership will enable Akhdar to expand into the GCC region, mainly focusing on Saudi Arabia, as well as fuel its growth and enhance its technology.
Akhdar has made a name for itself with its unique service of providing Arabic audiobook content, with its platform providing 15-minute audio summaries of various books. Since the launch of its dedicated platform in 2020, Akhdar has amassed over 2 million app installs and attracted a user base of 1.5 million individuals across 174 countries.
Commenting on the fundraising, Co-founder & CEO of Akhdar, Mohamed Osama, said: “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 significantly support our expansion plans into the GCC region, mainly focusing on Saudi Arabia. Additionally, it will enable us to fuel our growth and further enhance our technology to address the challenges today’s learners face effectively.”
Moatz Abonouq, Founder & CEO of VMS, added: “Akhdar’s vision resonates with our 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.”
VMS is a venture studio that combines a diverse set of talents, resources, and ideas to turn innovative ideas into thriving businesses. The firm is launching its “Bridge Programme” early next year to assist Egyptian tech startups in seamlessly expanding to Saudi Arabia. Through this channel, VMS has already invested six-figure sums in SaaS-based e-commerce startup Awfar and EdTech platform OBM Education.
Akhdar’s successful fundraising is a great example of how edtech startups are using strategic investments to expand their reach and provide innovative solutions to learners across the world. With this additional investment, we can expect Akhdar to continue leading the charge in the edtech space.
