Ed tech start-up, Akhdar has received a six-figure US dollar investment from EdVentures, an Egypt-based venture capitalist firm focused on investing in education, culture, and innovative learning solutions and the VC arm of Nahdet Misr Publishing House, Ventureburn has reported.
Akhdar was founded in 2017 and offers a book summary app. It began life as a Youtube channel, and now functions through a mobile app providing more than 100 video summaries for audio and printed books covering 16 different genres.
Akhdar stated it will use the funding to grow its library of content with new categories and topics. Dalia Ibrahim, a founder of EdVentures and chief executive of Nahdet Misr Publishing House added that the funds will be used to increase the company’s gamification model and enhance the technologies it uses.
Ibrahim said: “EdVentures is always keen to support and nourish educational start-ups, hence, we see this investment as a new brick we add to enrich the readers’ community with a smart and fun learning experience. Akhdar will use it to enhance its online application through the usage of gamification and other new ed tech features to provide more engaging content and an enhanced user experience. We will also be working closely with the team to further expand their services in order to cover a wider range of users.”
Akhdar founder Mohamed Osama, added: “Akhdar started with the aim of providing simplified summaries and information about different books for people who didn’t have time to read. Back then, we didn’t have a very clear vision of what we wanted to achieve. We worked very hard with the limited resources we had to build our platform and to be able to continue presenting useful content. Now, we are quite excited about the coming period. Our new partnership with EdVentures will add a lot to our business especially with Nahdet Misr’s extensive experience in education and content creation.”
Date published: 5 January 2021