Educatly, an Egyptian edtech firm, has raised $2.5 million in a recent funding round spearheaded by TLcom Capital and Plus VC, with contributions from Egypt Venture and the HBAN syndicate in Ireland. With this funding, Educatly’s plans to strengthen its footprint in Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.
Educatly was launched in 2020 by Mohamed ElSonbaty, Abdelrahman Ayman, and Joan Manuel with the mission of democratising access to higher education. The platform includes over 1,100 universities from 90 countries and employs sophisticated artificial intelligence (AI) and large language models (LLM) to provide accurate information, helping students navigate their educational options effectively.
Engineer Mohamed ElSonbaty, Founder and CEO, commented, “Today, we are proud to receive this new investment, which reaffirms our commitment to continue working towards our vision and strategic goals…It will also enhance the services we provide to reach more students around the world and help them achieve their goals.”
According to Dr. Abdelrahman Ayman, Co-Founder and COO, “This fund highlights the potential of educational technology in the region. Since the launch of Educatly, we have offered a wide range of services, with our business model focusing on three main pillars: helping students choose their fields of study, find the ideal programs and universities, and connect with students and Alumni around the world.”
Further elaborating on Educstly’s offerings, Ayman said that the platform features a global digital map of educational institutions designed to help users find the right programs. In addition, they offer financial support through various instalment plans in partnership with collaborators, he added. So far, Educatly has assisted over 3 million students, with a target of nearly 7 million by the end of 2024.
Educatly’s has grown rapidly since it secured $1 million in a pre-seed funding round in 2021. The company has also established R&D centres in Cairo and Dubai, investing $500,000 annually to develop a world class platform.
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