Baims, the EdTech startup in Saudi Arabia, Kuwait, Jordan, Bahrain, and Turkey, has successfully raised $4M in its Series A funding round to accelerate the development of its platform.
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EdTech startup Baims has secured $4M in its Series A round led by AK Holding with the participation of Al-Wazzan Educational Group, Rasameel Investment House, and other investors. Baims is an ed-tech startup operating in Saudi Arabia, Kuwait, Jordan, Bahrain, and Turkey. Its mission is to provide accessible and affordable education to university and high school students across MENA, regardless of their background or financial situation.
The EdTech Industry was fueled by the pandemic which brought with it the need for alternative learning methods. As a result, E-learning platforms in MENA raised $57M across 27 deals in 2021. Last year, the sector was able to rake in $74M with 34 deals, the same number of deals as in 2020, as reported in our FY2022 MENA Venture Investment Report. This funding high was largely driven by Classera’s $40M Series A. The sector in MENA has been thriving in smaller venture ecosystems like Jordan, compared to its peer markets in the top 3, UAE, KSA, and Egypt. The 14 deals closed by Jordan-based EdTech startups accounted for 17% of total transactions across all sectors and raised more than 30% of total funding throughout the year.
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The Baims platform allows top instructors to teach and students to study anytime and anywhere at a fraction of today's cost, making high-quality education accessible to everyone. Baims offers various educational content and services, including tailored video lectures, live sessions, chat groups, and interactive exercises. "We are thrilled to have the support of our investors, who share our vision of providing accessible and affordable education to students across MENA," said Yousef Al-Husaini, CEO of Baims. "Baims is short for Big Aims. It was chosen because it is characteristic of young people, especially university students, who have their whole life and possibilities ahead of them and have big aims for the future."
Baims plans to use the funds from this Series A funding round to accelerate the development of its innovative platform, increase its marketing efforts, and develop new educational content and services. "We are proud to lead the Series A investment round in support of Baims. We have followed its noticeable growth over the years and feel confident that it can grow even more to become the leading EdTech company in the MENA region soon. Baims stands out and the impact it brings to students is clear with its wide array of online courses. We have trust in the CEO's vision and leadership to carry the company to bigger success. AK Holding Company values hard-working entrepreneurs such as Yousef Al-Husaini and his team. We will continue to support projects that bring added value to society.," said Abdullateef Al-Thuwaini from AK Holding.
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