Egyptian Edtech Akhdar Secures Six-Figure Funding From Saudi’s VMS

Egyptian edtech startup Akhdar has secured a six-figure USD funding round from Saudi Arabia-based venture studio Value Maker Studio (VMS).

Founded in 2016 by Mohamed Osama, Akhdar initially started as a YouTube channel and has since evolved into a platform offering over 2,500 Arabic-language educational content items, including audio and written books, book reviews, and podcasts.

Akhdar is renowned for its unique service of providing Arabic audiobook content, with its platform offering 15-minute audio summaries of various books. Since the launch of its dedicated platform in 2020, Akhdar has amassed over 2 million app installs and attracted a user base of 1.5 million individuals across 174 countries. The funding from VMS will play a crucial role in supporting Akhdar's endeavors to establish a stronger presence in the Saudi market.

“This strategic partnership will greatly support our expansion plans into the GCC region, with a particular emphasis on Saudi Arabia,”  Mohamed Osama, co-founder and CEO of Akhdar, tells StartupScene. “Additionally, it will enable us to fuel our growth and further enhance our technology to effectively address the challenges faced by today's learners."

Value Maker Studio (VMS), the Saudi Arabia-based venture studio behind the investment, is known for bringing together diverse talents and resources to transform innovative concepts into successful businesses. VMS is gearing up to launch its ‘Bridge Programme’ in the coming year, aiming to facilitate the expansion of Egyptian tech startups into the Saudi Arabian market.

"Akhdar’s vision resonates with our commitment to advancing education,” Moatz Abonouq, CEO and Founder of VMS, says. “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."

The investment in Akhdar is part of VMS's strategy to actively empower entrepreneurs, foster technological innovation, generate employment opportunities, and solidify its strategic position in the Saudi market.