Formerly known as MARJ3, the Egyptian ed-tech firm Emonovo has secured a bridge round of investment in an effort to refocus its efforts and expand its audience of students.
In July 2016, Abdo Samy, Sami Al-Ahmad, and Ahmed Elgebaly founded Emonovo, which was formerly known as MARJ3, a comprehensive database of educational possibilities for Arab youth throughout the world.
It received pre-seed finance from the FAC Egypt Fund of Flat6Labs within a year, and in 2020 it received fresh money from US-based investor Expert Dojo. Earlier this year, the firm changed its name to Emonovo and vowed to help students throughout their academic careers rather than only offering scholarships.
In addition to a follow-on investment from Flat6Labs, the firm has now secured an undisclosed bridge round of capital from key angel investors from the US, Europe, and the MENA area.
The funding will be used to further the startup’s new brand strategy, expand university onboarding, and increase student recruitment on the platform. The platform’s technology will also be updated to improve data management and matching.
“This strategic investment round is going to help us make Emonovo available to more students than ever before. Our mission is to help students achieve their educational dream, and I am super excited that our investors are aligned with us on making our unique solutions and technology experience available for everyone soon,” said Sami Al-Ahmad, CEO and co-founder at Emonovo.
“Flat6Labs has been a firm believer in Emonovo’s team and platform from day one. This investment is a testament to our belief in Emonovo’s mission to empower students in the MENA region in their educational journey. We’re excited to see how the team will develop their platform even further and support more potential students towards fulfilling their educational ambitions in the best universities around the world,” said Dina El-Shenoufy, a chief investment officer of Flat6Labs.
