Egyptian ed-tech startup Farid has successfully secured $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan. This pivotal investment comes at a crucial time for the company as it prepares to broaden its innovative educational platform and enhance its strategic partnerships with schools across Egypt.
Mahmoud Hussein founded Farid in 2024, dedicating the company to providing character-building and mental health support for Arab children aged three to 18. Through direct, one-on-one sessions, the startup strives to improve the personal and psychological skills of its young users. In addition, Farid offers training programs for youth and graduates, empowering them to become certified trainers in the company’s distinctive educational and psychological methodologies.
With the newly acquired funding, Farid will expand its reach into global markets, specifically targeting Saudi Arabia and the United Arab Emirates (UAE). “This funding will allow us to significantly enhance our platform, develop new training content, and recruit more employees and trainers,” said Hussein. “Moreover, we aim to establish partnerships with a multitude of schools and universities to increase our outreach to the target audience.”
The startup has set ambitious targets for the coming years. Farid plans to grow its subscriber base to 20,000 within the next two years and train 10,000 graduates to become certified trainers by 2030. The funding will also support the introduction of workshops and new curricula designed to cultivate children’s skills and talents while promoting their mental health. “Our objective is to empower children to tackle future challenges with confidence,” added Hussein.
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Farid’s innovative approach to education has garnered significant attention. The company earned recognition as one of the top 100 startups at the LEAP2024 conference in Riyadh, underscoring its potential to attract additional investment. Hussein emphasized the importance of educational innovation, stating, “Our unique methodology is a key factor in securing funding and positioning Farid as a compelling investment opportunity.”
Furthermore, as the demand for personal skills education and self-development continues to rise in the region, Farid is strategically poised to address these needs. The ed-tech sector in Egypt is projected to grow from $2.5 billion in 2022 to $5.5 billion by 2028, indicating a ripe environment for innovative educational solutions.
Recent funding rounds for competitors such as iSchool and Sprints further highlight the increasing interest in the ed-tech space, with Sprints expanding into ten new markets and equipping over 200,000 learners with essential skills for success in the tech industry.
As Farid embarks on this exciting journey of growth and expansion, the startup remains committed to its mission of bridging educational inequalities and supporting the well-being of children in underserved communities.
