Sylvia Duruson
Farid, an innovative Egyptian edtech startup, has recently obtained $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan. This financial boost will enable the company to expand its educational platform and venture into global markets, particularly Saudi Arabia and the United Arab Emirates.
Founded in 2018 by Mahmoud Hussein, Farid (formerly Farid Academy) has established itself as a prominent player in the Middle East and North Africa’s educational technology sector. The platform specializes in character education and mental health support for children and adolescents aged 3 to 18, employing modern educational methodologies to nurture personal and psychological skills.
With this new funding, Farid aims to significantly increase its subscriber base. The company has set ambitious targets, including attracting 20,000 new subscribers over the next two years and training 10,000 graduates to become certified trainers by 2030. These goals align with Farid’s mission to provide innovative educational solutions that enhance children’s well-being and personal skills.
Mahmoud Hussein, Farid’s founder and CEO, outlined the company’s plans for utilizing the funds. The startup will focus on expanding its platform, developing new training content, hiring additional employees and trainers, and establishing a presence in Saudi Arabia and the UAE. Farid also intends to forge partnerships with schools and universities to broaden its reach to the target audience.
The platform’s expansion plans include enhancing its content offerings. Farid will introduce new workshops and curricula designed to improve children’s skills, nurture their talents, and support their mental health. These additions aim to equip young learners with the tools to face future challenges confidently.
Hussein emphasized the role of educational innovation in attracting investment, highlighting Farid’s unique methodology as a key factor in securing funding. He also pointed out the growing demand for personal skills education and self-development in the region, positioning Farid as an attractive investment opportunity, especially as it plans to expand into Gulf markets.
The edtech sector in Egypt is experiencing rapid growth, with projections indicating an increase from $2.5 billion in 2022 to $5.5 billion by 2028. This growth is reflected in the success of Farid’s competitors, such as iSchool and Sprints, which have also secured funding and expanded their operations. Sprints, for instance, has extended its reach to 10 new markets and equipped over 200,000 learners with essential skills for the tech industry.
Farid’s focus on character education and mental health support sets it apart in the competitive edtech landscape. By addressing these crucial aspects of child development, the platform is contributing to a more holistic approach to education in the region.
As Farid embarks on this new phase of growth, it is poised to make a significant impact on the educational landscape of the Middle East and North Africa. With its innovative approach to child education and ambitious expansion plans, the startup is well-positioned to play a key role in shaping the future of learning in the region.
