- Farid, an Egyptian edtech startup, has received $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan.
- The funding will help the startup expand its educational platform and enter global markets, including Saudi Arabia and the United Arab Emirates, following several strategic partnerships with Egyptian schools.
- The platform aims to increase its subscriber base, targeting 20,000 new subscribers over the next two years, and train 10,000 graduates to become certified trainers by 2030.
The company also aims to expand its content by adding workshops and new curricula that improve children's skills, nurture their talents, and support their mental health, allowing them to face future challenges confidently.
“The company will use the funding to expand its platform, develop new training content, hire new employees and trainers, and expand into Saudi Arabia and UAE. The company will also work on forming partnerships with many schools and universities to enhance its reach to the target audience,” Mahmoud Hussein, the founder and CEO of Farid said.
Farid, formerly Farid Academy, founded in 2018 by Mahmoud Hussein, is a Middle East and North Africa platform that provides innovative educational solutions to improve children's well-being and personal skills.
It focuses on character education and mental health support for children and adolescents aged 3 to 18, utilising modern educational methodologies to foster personal and psychological skills.
The startup also provides training for youth and graduates to become certified trainers in Farid’s educational and psychological methodology.
Hussein emphasised the importance of educational innovation in attracting funding, which Farid's methodology has accomplished.
He highlighted Farid's potential as an investment opportunity, citing the region's growing demand for personal skills education and self-development and the company's planned expansion into Gulf markets.
Egypt's edtech sector is expected to grow to $5.5 billion by 2028, up from $2.5 billion in 2022. Recently, competitors like iSchool and Sprints have secured funding, with Sprints expanding into 10 new markets and equipping over 200,000 learners with essential skills to thrive in the tech industry.
