Egypt's Akhdar raises six-figure Seed funding round

Akhdar, an Egypt-based book summary mobile app, has raised a six-figure Seed funding round, from EdVentures, the venture capital arm of Egypt’s Nahdet Misr Publishing Group.

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Founded in 2017 by Mohamed Osama, Akhdar initially started as a YouTube channel that summarized books through short and engaging videos, helping readers to grasp the main ideas presented by those books. The startup has now launched a mobile application that features hundreds of videos for audio and printed books covering more than 16 different genres. The cultural platform generates simplified content from various books and presents it in a modern and engaging way to young readers.

Mohamed Osama, Founder of Akhdar said, “Akhdar started with the aim of providing simplified summaries and information about different books for people who didn't have time to read. Back then, we didn’t have a very clear vision of what we wanted to achieve. We worked very hard with the limited resources we had to build our platform and to be able to continue presenting useful content.

"Now, we are quite excited about the coming period, our new partnership with EdVentures will definitely add a lot to our business especially with Nahdet Misr’s extensive experience in education and content creation. The investment will be directed to enrich our library with various new categories and topics, in addition to offering readers a smart learning experience to make the most out of the content available on the platform.”

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Dalia Ibrahim, Founder of EdVentures and CEO of Nahdet Misr Publishing House commented, "EdVentures is always keen to support and nourish educational startups; hence, we see this investment as a new brick we add to enrich the readers' community with a smart and fun learning experience. Akhdar will use it to enhance its online application through the usage of gamification and other new Edtech features to provide more engaging content and an enhanced user experience. We will also be working closely with the team to further expand their services in order to cover a wider range of users.” 

EdVentures supports and invests in startups specializing in education, culture, and innovative learning solutions in Seed and Pre-Series A rounds focusing on Egypt, Africa, and the Arab World. The VC provides technical and financial support to startups in order to ensure their success and continuity in the market.

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