KSA’s iStoria raises Pre-SEED funding

iStoria, a specialized EdTech app that helps people improve their English language through reading interesting stories, has closed a Pre-SEED round from Nama Ventures.


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Saudi EdTech startup iStoria has raised an undisclosed amount in Pre-SEED funding round by Nama Ventures.​ iStoria was founded in August 2020 by Abdullah AlJaberi and Dr. Faisal AlHomoud. 

The EdTech sector in the MENA region has paced in 2022 after a 46% growth of capital investment in the sector between 2019 and 2021 driven by the pandemic induced need for online learning. Despite recording an 80% YoY growth in terms of deal share in Q1’22, the sector did not close any major rounds, as seen in our MENA Q1 2022 Venture Investment Report. The sector has aggregated over $15M in 2022 YTD across 21 deals. The biggest round was closed by UAE-based Qureos, an EdTech startup offering ‘Learn to Earn’ opportunities, followed by Kuwait-based Baims and Egypt-based Orcas and Sprints to offer a customized digital learning experience. 


 



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The team at iStoria made an effort to understand the learners’ tendency towards learning through technology, and they came up with a way to efficiently meet the learners' needs. iStoria said in a statement, “We are looking for a guaranteed and tested method to improve the English language, such as the graded reader method. So, iStoria came to digitize it and make it easier with additional supported features. We have a very close relationship with our customers, so we quickly understand their needs. That is the reason why we have been getting high ratings since we please our customers. Our mission is to make learning the English language enjoyable with an easy way for busy people, and we can no longer make excuses for not learning English.”

It can be extremely hard for learners to learn English through the traditional ways. As a result, iStoria was launched to help users learn English easily using the ‘graded reader’ method with additional helpful features. Mohammed Alzubi, Founder and Managing Partner at Nama Ventures commented, “The journey of iSoria’s founding is not a typical one that we usually see at Nama Ventures. It's rare that we see a technical person be the initiator of the startup.” Mohammed added, “But as we all know, Entrepreneurship is a team sport, so Abdullah realized early on that he can't go at it alone and decided to partner with Dr. Faisal, a published subject matter expert to help bridge the knowledge gap on the domain, Abdulnaser to drive operations and make sure “stuff gets done”, Ismail to translate the vision of the founders into code, and Khalid to drive marketing. The result of this dream team is the amazing iStoria application.  So if you want to learn English at your own pace, do it via iStoria.” 


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