Egypt’s venture capital firm Sawari Ventures announced on Monday that it has led a $4.5m Series A investment round for the e-learning platform Almentor.net, with the participation of other investment firms like Egypt Ventures, Endure Capital, and angel investor Mohamed El Amin, bringing the total funding raised by the company to $8m to date.
Almentor.net was launched in 2016 with a mission to address the lack of online personal development content for Arabic-speakers. The platform offers a catalogue of exclusive training videos and expert talks, introducing unique knowledge development solutions for the region in areas including health, technology, humanities, entrepreneurship, and business management.
Partner at Sawari Ventures Wael Amin said, “From the beginning, we have supported Almentor’s mission to expand the personal development options available for young Arabic-speaking professionals in the MENA region. Filling this gap in the area of knowledge development and laying the foundation for a rich online learning ecosystem is crucial to the development of the next generation of empowered leaders.”
“We are impressed with what the team has achieved in the last two years and excited to be part of its future journey,” he added.
Meanwhile, Almentor.net’s CEO and Co-Founder Ihab Fikry stated that the platform already has more than 10,000 videos online. They hope to use this investment to further avail their audience to even more enriching learning experiences, to help young people enhance their personal development and confidence in the process, while increasing their knowledge base.