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Coded Minds closes funding round with Alarabi Investments

MAGNiTT 2 years ago - Tue, Mar 12, 2019, 1:24 PM

Coded Minds closes funding round with Alarabi Investments
Author: MAGNiTT

Press Release


Coded Minds, a fast-growing education technology firm, has announced the closing of its latest round of funding from a single investor, Alarabi Investments, which has become a significant minority shareholder. Coded Minds Limited is now valued at Dh40 million.

Coded Minds offers a huge variety of modernized project-based courses taught across the UAE’s private and public schools. The company is licensed by Knowledge & Human Development Authority (KHDA). The company has developed a disruptive business model that is expected to change the dynamics of the education sector. This new approach will capitalize on the relatively younger population of GCC countries.

“We welcome a fabulous partner like Alarabi Investments onboard and believe that this partnership will allow Coded Minds to not only execute on its UAE expansion plans but also to further enter into Saudi Arabia as a key market immediately while continuing to develop & enhance our course offerings” said Omar Farooqui, Founder and Chief Innovation Officer of Coded Minds.

Mohammad Alghaith, CEO of Alarabi Investments, called this an organic collaboration. “It is our mandate to invest in next generation’s disruptive businesses with mass scalability in the GCC and beyond. Education especially iSTEAM* fits perfectly in our agenda. We are also excited to be part of Coded Minds’ noble agenda of spreading knowledge among the next generation around the world,” said Alghaith.

Omar Farooqui said that the collaboration is part of Coded Minds’ global expansion strategy. “This year, Coded Minds will be expanding its operations into Saudi Arabia, while further solidifying its UAE operations and starting to look into Asia namely Pakistan for opportunities”

“We are committed to forming new education paradigms for our children, in order to equip them with the right skills and prepare them for future challenges” said Farooqui, who is a Dubai-based Saudi national. Omar Farooqui was an investment banker for best part of two decades before starting Coded Minds two years ago.

Farooqui said his company not only provides technology focused & integrated courses but is also on a mission to bring about a revolution in the education sector in the classroom and beyond through the implementation of technology and a revolutionary business model. “Learning must be continuous, enjoyable and life-long and not time bound whether at primary, secondary or higher education and the methodology of delivery of subject matter needs radical rethinking,” he said.

Based in Dubai International Financial Center (DIFC) since March 2018, Alarabi Investments focuses on delivering change, value and impact through investment in prospective opportunities.

It is also in line with Saudi Arabia Vision 2030 and the fund is geared towards supporting this vision. “Investing in education will add value to our vision. Education is a responsible investment not just for the company but also for the country’s future. We are happy to have joined hands with Coded Minds in this endeavor,” said Mohammad Alghaith the CEO of Alarabi Investments.

This transaction was exclusively advised by Advanced Elements Management Services Co. a regional boutique Business Advisory Fir

 

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