Egyptian edtech startup Farid has successfully raised $250,000 in a pre-seed funding round, with the investment coming from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan. Founded in 2024 by Mahmoud Hussein, Farid focuses on providing character education and mental health support for children and youth aged 3 to 18 years.
The platform aims to improve the well-being of young individuals by employing innovative educational techniques that foster personal and psychological development. Farid is unique in its offering, providing one-on-one sessions tailored to the needs of Arab children, making it the first of its kind in the Middle East and North Africa (MENA) region. It also offers specialized training for youth and graduates to become certified trainers in its educational and psychological methods.
Hussein, the founder and CEO, expressed his excitement about the funding, emphasizing the trust placed in the company by Amal Al-Ajlan. He revealed plans to use the investment to expand Farid’s platform, develop new content, hire additional staff and trainers, and extend the company’s operations into Saudi Arabia and the UAE. Furthermore, Farid will focus on forming partnerships with schools and universities to broaden its reach.
Hussein believes Farid’s innovative approach to education has been instrumental in attracting investor interest. The growing demand for personal skills education in the region, along with Farid’s plans for expansion into Gulf markets, further enhances its appeal to potential investors.
Looking ahead, Farid aims to increase its user base to 20,000 subscribers over the next two years by launching in more educational institutions across Saudi Arabia, Egypt, and the UAE. The platform also plans to enrich its offerings with new workshops and curricula designed to strengthen children’s personal skills and mental health. By 2030, Farid aims to train 10,000 graduates from education colleges to become certified trainers in its methodology.
In recognition of its innovative contributions, Farid was named among the top 100 startups at the LEAP2024 conference in Riyadh.
Discover the State of Funding in MENA – 2019 to 2023 :
https://assiyaq.com/the-state-of-startup-funding-in-mena-2024-report/ of this month is taking you through the ups and downs of MENA’s startup funding over the last 5 years. If you’re a startup founder, an investor or an ecosystem builder, this is your chance to learn from the past, spot the trends, and write your own success story.
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