Saudi Arabia-Based Edtech Noon Raises $41 Million Series B

Saudi Arabian edtech company Noon has raised $41 million in a Series B funding round. The round was co-led by Wa’ed Ventures and Raed Ventures, with participation from several other investors, including STV, SVC, Riyadh Valley Company (a subsidiary of King Saud University), Endeavor, Sanabil 500, Qyem Development Holding, and Nahlat Alarab Holding.

Noon, founded in 2013 by Mohammed Aldhalaan and Abdulaziz Alsaeed, offers a peer-to-peer social learning app for students across the Middle East and North Africa (MENA) and Pakistan. The company plans to use the funding to improve its AI-powered solutions, providing personalised learning experiences, and to support its global expansion over the next two to three years.

“We exist to radically change the way people learn,” Mohammed Aldhalaan, cofounder and CEO at Noon, tells StartupScene. "As we extend our presence into physical classrooms, our goal is to introduce unparalleled engagement levels within the classroom while providing students with the opportunity to learn from exceptional educators.”

Noon's peer-to-peer, social learning approach has engaged over 12 million students in the MENA region and Pakistan. A group of 50 teachers on the platform has been able to educate six million students, democratising access to quality education, particularly for those in remote areas.

“We're proud to double down on our investment in Noon and co-lead its Series B Round,” Omar Almajdouie, Founding Partner at Raed Ventures, says. “The company has built an exceptional platform experience for students and teachers that delivers new approaches to learning and has demonstrated the ability to scale in various markets across multiple geographies.”

The company aims to integrate its successful approach into physical classrooms, furthering its mission to provide universal access to quality education while harnessing the latest advancements in generative AI.