Educatly, an Egyptian edtech sartup, has raised $2.5 million to solidify its presence in the Middle East and Africa, including key markets such as Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.
The round was led by TLcom Capital and Plus VC with participation from Egypt Venture (Egypt) and the HBAN syndicate (Ireland).
According to Engineer Mohmmed El-Sonbaty, Founder and CEO of Educatly, “Today, we are proud to receive this new investment, which reaffirms our commitment to continue working towards our vision and strategic goals through an ambitious plan aimed at increasing growth and expanding our operations in Africa and the Middle East. It will also enhance the services we provide to reach more students around the world and help them achieve their goals.”
Launched in 2020, Educatly provides information on all types of schools and universities worldwide, as well as various programs and scholarships. Using artificial intelligence (AI) and large language models (LLM), the platform helps universities reach and engage with students seamlessly. The platform features over 1,100 universities in 90 countries around the globe.
In 2021, Educatly raised $1 million in a pre-seed funding round, which included participation from Enterprise Ireland, Falak Startups, among other investors. In addition to that, Educatly has research and development centres in Cairo and Dubai with investments totaling $500,000 a year aimed at developing a digital platform that meets global standards.
Dr. Abdelrahman Ayman, Co-Founder and Chief Operating Officer of Educatly, added, “This fund highlights the potential of educational technology in the region. Since the launch of Educatly, we have offered a wide range of services, with our business model focusing on three main pillars: helping students choose their fields of study, find the ideal programs and universities, and connect with students and Alumni around the world. We provide a comprehensive digital map of educational institutions worldwide to assist users. We also offer financial support through diverse instalment systems in collaboration with our partners, helping students access the best educational programs based on their needs. To date, we have reached over 3 million students and aim to increase this number to approximately 7 million by the end of 2024.”