The Iraqi venture capital firm EQIQ has taken the lead in a $500,000 pre-seed funding round for Corrsy, a Finnish edtech startup. With this fresh influx of funding, Corrsy aims to widen its reach, offering its innovative educational solutions to more students in the MENA region.
Corrsy was launched in 2019 by Mustafa Salam with the goal of solving educational problems in Iraq and the surrounding Middle East. Drawing from his own experiences during the Iraq armed conflict, Salam seeks to leverage technology to enhance education and benefit society.
“This funding will enable us to be on the way to capturing the largest market share in Iraq and scaling our services to other markets,” Salam said.
We strive to make high-quality education affordable for everyone with a mobile device and internet access, allowing them to thrive in national exams, attain lifelong knowledge, and experience joy in the process of learning, Salam added.
In 2022, Corrsy released its first product, and since then, the mobile app has seen over 500,000 downloads by students in Iraq. What sets the app apart is its use of gamification, storytelling, and micro-learning, offering a captivating and efficient way to learn.
Founded by Mohamed Al-Hakim, EQIQ is a regional venture capital firm aimed at strengthening the Iraqi technology startup scene. Earlier this year, the firm invested $150,000 in Wayl.
The investment in Corrsy is supported by a diverse set of investors, including Risto Vahanen, a Finnish EdTech angel investor, the UK’s SuperChargers Ventures EdTech accelerator, Yousef Durubi’s Durubi Management Holding Company, Jordanian angel investor Adel Qahwaji, and Pekka Hermonen from Finland.
“We are thrilled to have the support of esteemed investors from across the globe – including Finland, Iraq, the MENA region, the UK, and other international backers – who share our vision of transforming education in the MENA region,” Salam added.
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