Saudi-based edtech startup Noon Academy forays into Indian market

Must Read

Howdy, Modi! : World media reactions on Modi-Trump’ grand Houston Event address

New Delhi, Sep 23: United States President Donald Trump and Indian Prime Minister Narendra Modi on late Sunday shared...

Howdy Modi : Modi-Trump mark history in US-India relationship with great show at Houston

Houston, Sep 22:  Modi, delivering his speech at the historic event, talks about the development underwent over five years...

ECI announces dates of Maharashtra & Haryana elections; Single Phase Election on October 21; Result on 24th

Election Commission of India has announced the dates of much-awaited state elections. According to the Chief Election Commissioner, Sunil...

Noon Academy, a Saudi-based leading education technology startup enters into Indian market to disrupt its edtech space on the social learning app.

“We have recently raised $8.6 million (Rs 47 crore) through series A financing round to enter India on our platform that appeals to the masses,” said the startup in a statement here.

The new round of funding was co-led by venture capitalists (VCs) in the Middle East North Africa (MENA) region like Raed Ventures and STV with institutional investors such as Alisamiah.

Based at Riyadh in the desert kingdom, the 6-year-old Academy will also use a part of the new fund to build engineering and product teams, double its growth and enter new markets like India.

“The app, which has over 2 million students and 1,500 certified tutors in Saudi Arabia and Egypt, allows them to study with friends in groups, compete with one another and request tutors on demand,” said the statement.

Students spend an hour on the app per visit, exceeding the EdTech industry average of 14 minutes per visit.

According to IBEF (India Brand Equity Foundation), the education market, estimated to grow to $5.7 billion by 2020, has emerged as a lucrative opportunity for EdTech startups.

“Our app is transforming into an open platform, where teachers the world over can start educational groups, allowing other tutors to cultivate their following and generate additional income through performance and positive reviews,” said Academy co-founder and Chief Executive Mohammed Aldhalaan in the statement.

The company is scouting for talent to join its 90-member team at Riyadh, Bengaluru and Cairo in Egypt.

Veteran technology specialist in programme and product management M. Mohan, who worked at Amazon, Microsoft, Ola and Yahoo over the last 19 years, has recently joined the Academy as vice-president (engineering).

Raed Ventures founding partner Omar Almajdouie, STV partner Hani Enaya and institutional investor Careem co-founder Abdullah Elyas will join Academy’s board of directors soon.

The story has been taken from IANS.


Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Airtel-VodaIdea, Jio clash on voice traffic imbalance, call ring time

New Delhi, Sep 23 (IANS) A fierce war is currently on between Airtel and VodafoneIdea and Reliance Jio over...

Indo-US trade deal chances get better, Goyal heads to NY

New Delhi, Sep 23 (IANS) With Commerce Minister Piyush Goyal heading to New York, possibly to iron out last-minute glitches, if any, in the...

India to raise non-fossil fuel target to 450 GW: PM (2nd Lead)

New York, Sep 23 (IANS) Prime Minister Narendra Modi on Monday told the United Nations that India's policy on climate change action has been...

PSB strike put off after govt assurances (Lead)

New Delhi, Sep 23 (IANS) An impending public sector banks' strike from September 26-27 over the mega-bank merger scheme has been deferred by state-run...

India on mission mode to eradicate TB by 2025: Modi at UN

New York, Sep 23 (IANS) Prime Minister Narendra Modi on Monday outlined the four pillars of his government's health policy, and declared that India...
- Advertisement -

More Articles Like This