Farid, an emerging edtech startup based in Egypt, has successfully secured a pre-seed investment of $250,000 from Amal bint Abdulaziz Al-Ajlan, a prominent Saudi entrepreneur. This infusion of capital is set to propel the startup’s growth ambitions, enabling it to broaden the reach of its educational offerings and to penetrate international markets, notably Saudi Arabia and the United Arab Emirates. This move comes on the heels of forming several key partnerships with educational institutions in Egypt.
With an eye on scaling its user base, Farid has set a target of acquiring 20,000 new subscribers within the next two years. Additionally, the company has set forth an ambitious goal to train 10,000 graduates, equipping them with the necessary skills to become certified trainers in Farid’s educational approach by the year 2030. Farid is committed to enriching its educational content, planning to introduce workshops and new curricula designed to enhance children’s abilities, cultivate their talents, and bolster their mental health. The overarching aim is to empower the youth to navigate future challenges with confidence and resilience.
Mahmoud Hussein, the founder and CEO of Farid, outlined the strategic use of the newly acquired funds. The investment will be channeled into the expansion of the platform, the creation of innovative training materials, the recruitment of additional staff and trainers, and the establishment of a presence in the Saudi Arabian and UAE markets. Farid is also set to forge partnerships with a multitude of schools and universities to amplify its impact and reach its intended audience.
Launched in 2024 by Mahmoud Hussein, Farid has positioned itself as a key player in the MENA region’s edtech landscape, offering cutting-edge educational solutions that prioritize the well-being and personal development of children and adolescents aged 3 to 18. The startup leverages contemporary educational methods to nurture personal and psychological competencies.
In addition to its core offerings, Farid provides specialized training programs for young adults and graduates, preparing them to become certified practitioners of Farid’s unique educational and psychological techniques.
Hussein stressed the significance of educational innovation as a magnet for investment, a feat that Farid’s distinctive methodology has achieved. He underscored the startup’s investment appeal, referencing the escalating regional demand for education in personal skills and self-improvement, coupled with the company’s strategic plans to venture into the lucrative Gulf markets.
The edtech sector in Egypt is on an upward trajectory, with projections estimating its growth to reach $5.5 billion by 2028, a significant leap from $2.5 billion in 2022. Farid’s competitors, including iSchool and Sprints, have also recently secured investments, with Sprints expanding into 10 new markets and empowering over 200,000 learners with vital skills for success in the burgeoning tech industry.
