Egyptian edtech startup Farid has successfully raised $250,000 in pre-seed funding from Saudi entrepreneur Amal bint Abdulaziz Al-Ajlan to expand its educational platform beyond Egypt. This investment will support the startup’s growth into international markets, particularly Saudi Arabia and the United Arab Emirates.
The funding will enable Farid to enhance its platform, develop new training content, hire additional staff and trainers, and establish partnerships with schools and universities to broaden its reach. “The company will use the funding to expand its platform, develop new training content, hire new employees and trainers, and expand into Saudi Arabia and the UAE,” said Farid CEO and Founder Mahmoud Hussein.
About Farid
Founded in 2024, Farid is focused on providing innovative educational solutions to improve children’s well-being and personal skills in the Middle East and North Africa (MENA) region. The platform emphasizes character education and mental health support for children and adolescents aged three to 18, employing modern educational methodologies to develop personal and psychological skills. Farid also offers training programs for youth and graduates to become certified trainers in its unique educational and psychological methodology.
Hussein emphasized the importance of educational innovation in attracting investment, noting that Farid’s distinct approach has been pivotal in securing funding. He highlighted the increasing demand for personal skills education and self-development in the region, making Farid an appealing investment opportunity, especially with its plans to enter Gulf markets.
Market Potential
The Egyptian edtech sector is projected to grow significantly, with estimates suggesting it will reach $5.5 billion by 2028, up from $2.5 billion in 2022. The International Finance Corporation (IFC) reports that over 230 million jobs in sub-Saharan Africa will require some level of digital skills by 2030, underscoring the necessity for educational innovation in the region.
Farid aims to increase its subscriber base by targeting 20,000 new subscribers over the next two years and plans to train 10,000 graduates to become certified trainers by 2030. Additionally, the startup intends to enhance its offerings by introducing workshops and new curricula designed to boost children’s skills, nurture their talents, and support their mental health, empowering them to tackle future challenges confidently.
Notably, Farid was recognized as one of the top 100 startups at the LEAP2024 conference in Riyadh in March 2024, further solidifying its position in the growing edtech landscape.
