RIYADH: Jordan-based edtech and online learning platform Abwaab has successfully raised $20 million in series A funding round, MAGNiTT reported.
The funding was led by existing investor BECO Capital (UAE) and joined by 4DX Ventures (USA), GSV Ventures (USA), Watar Partners (KSA) and others.
Founded in late 2019, Abwaab positions its platform at secondary school students, offering content tailored to local curricula to fill the gaps in educational resources available online.
Abwaab has expanded from Jordan into Egypt and Pakistan, following a $5 million seed round in March of this year.
The investment makes Abwaab one of the most-funded regional edtech startups across MENA, a region that encompasses 160 million students, according to MAGNiTT.
MENA-based edtech startups raised 39 percent fewer deals and observed a 38 percent drop in capital deployed in 2021 year-to-date (YTD).
However, major rounds in MENA-based edtech 2021 were recorded by startups like UAE-based Almentor, Saudi-based Jeel Platform, and Jordan-based Edunation and Abwaab.
