Egyptian edtech startup Farid bags $250K pre-seed funding

Egyptian edtech startup Farid has received US$250,000 pre-seed funding to expand its platform to other countries, from Amal bint Abdulaziz Al-Ajlan, a Saudi Arabian entrepreneur.

Following several strategic partnerships with Egyptian schools, the funding will help the startup expand its educational platform and enter global markets, including Saudi Arabia and the United Arab Emirates.

Furthermore, the funding will help the startup's platform 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.

Moreover, Farid added that it plans to enhance its offerings by introducing workshops and new curricula designed to boost children's skills, nurture their talents, and support their mental health, empowering them to tackle future challenges confidently.

Farid said the funding will help it 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. (Source: Image by pch.vector on Freepik)

"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," Farid CEO and Founder Mahmoud Hussein said.

Farid's appeal

Farid is a Middle East and North Africa platform that provides innovative educational solutions to improve children's well-being and personal skills.

Founded by Hussein in 2024, the company focuses on character education and mental health support for children and adolescents aged three to 18, utilizing modern educational methodologies to foster personal and psychological skills. Farid offers training programs for youth and graduates to become certified trainers in his educational and psychological methodology.

Hussein highlighted the significance of educational innovation in attracting investment, emphasizing that Farid’s unique methodology is a key factor in securing funding.

He also noted the rising demand for personal skills education and self-development in the region, positioning Farid as an appealing investment opportunity, especially with its plans to expand into Gulf markets.

Recently, competitors such as iSchool and Sprints secured funding, with Sprints expanding into 10 new markets and equipping over 200,000 learners with essential skills for success in the tech industry.

Notably, Farid was chosen as one of the top 100 startups at the LEAP2024 conference in Riyadh in March 2024.

By 2028, Egypt's edtech sector is expected to grow to $5.5 billion, the figure is up from $2.5 billion in 2022. According to the International Finance Corporation (IFC) report, over 230 million jobs in sub-Saharan Africa will require some level of digital skills by 2030.

As job requirements change, African countries need to empower their citizens, especially young people, with relevant digital skills to stay competitive, a development that is drawing more attention and funding to the ed-tech space.

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— Matshepo Sehloho, Associate Editor, Connecting Africa