Value Maker Studio (VMS), a venture studio based in Saudi Arabia, has awarded a six-figure US dollar funding round to Egyptian ed-tech startup Akhdar in order to help it grow in the Kingdom.
Established in 2016 by Mohamed Osama, Akhdar provides over 2,500 Arabic-language educational resources in the form of podcasts, written and audiobooks, book reviews, and more. In 174 countries worldwide, 1.5 million people use its app.
In contrast, VMS is a venture studio that combines a wide range of skills, assets, and concepts to turn creative ideas into profitable ventures. Its goals are to create jobs, push technological innovation, support exceptional entrepreneurs, and gain a strategic foothold in the Saudi market.
Early in 2019, the business will introduce its “Bridge Programme” to assist Egyptian tech startups in their smooth expansion into Saudi Arabia. Through this, it has also made six-figure investments in the ed-tech platform OBM Education and the SaaS-based e-commerce startup Awfar.
“We are thrilled to announce the successful completion of our bridge round investment, led by VMS under the ownership of Moatz Abo Onuq. This strategic partnership will greatly support our expansion plans into the GCC region, with a particular emphasis on Saudi Arabia. Additionally, it will enable us to fuel our growth and further enhance our technology to effectively address the challenges faced by today’s learners,” said Mohamed Osama, co-founder and CEO of Akhdar.
The CEO and founder of VMS, Moatz Abonouq, stated that his company’s dedication to furthering education aligned with Akhdar’s vision.
“We’re excited to support their strategic expansion, enhance technological capabilities, and foster partnerships in Saudi Arabia and the GCC. Empowering learners through innovative edtech solutions is a shared goal, and we look forward to the transformative impact ahead,” he said.
