Jeel, an educational entertainment (edutainment) platform in Saudi Arabia, raised $1.10 million in a seed funding round, led by EdVentures, the corporate venture capital (VC) arm of Egypt’s Nahdet Misr Publishing Group.
Founded in 2020 by Ahmed Sobaih, Jeel provides pre-schoolers with educational content prepared by a group of psychologists and educators, according to a press release.
EdVentures announced the funding during the 2022 Global Impact Summit which highlighted the future of education technology (edtech) and investment opportunities in the MENA region. In addition, the US-based impact intelligence platform HolonIQ participated in organising the summit.
Based on HolonIQ’s latest data, Egypt holds the largest share in the growing edtech ecosystems across the MENA region, which has a total of 1,500 edtech companies, followed by the UAE and Saudi Arabia.
Dalia Ibrahim, CEO of Nahdet Misr Publishing House and Founder of EdVentures, commented: “Driven by the need to transform the EdTech sector locally and regionally, we established EdVentures in 2017, managed to support more than 66 startups, and invested in 13 companies with a market capitalisation of $75 million, creating 1,400 jobs.”
Ibrahim added: “Moving forward, EdVentures is seeking more investments in EdTech startups, while expanding globally.”
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