Orcas, an Egypt-based edtech startup, has raised USD 2.1 million in a pre-Series A funding round co-led by CIRA’s NFX Ventures and Access Bridge Ventures on 16 January 2022.
Investors: CIRA’s NFX Ventures and Access Bridge Ventures co-led the latest funding round with participation from Launch Africa Ventures, Algebra Ventures, Seedstars International and Cairo Angels Syndicate Fund.
The Objectives behind the funding: The company plans to deploy the current proceeds to develop its technology, hire new talent and expand into new markets in MENAP.
Founded in 2019 by Hossam Taher and Amira El Gharib, Orcas provides K-12 students with live 1-on-1 tutoring sessions, both in-person and online. By providing flexible payment plans, discounted packages and instalment programmes, Orcas claims to be the most affordable, high-quality learning platform that facilitates parents to support their children’s education. Its platform allows parents to find tutors and hybrid courses. The hybrid learning experience provides personalized learning plans, learning style assessments, and practice assignments for each student to guarantee the most tailored learning experience possible while empowering tutors to offer high-quality learning sessions. Its platform provides self-paced learning through gamified and free question banks that are mapped to numerous learning systems and students’ ages. The startup claims that multiple schools and school teachers have adopted its question banks as an auto-graded and credible homework source. Orcas plans to commence its operations in Lahore, Pakistan, in early 2022.
What the Founder has to say:
“Learners today have different needs that Edtech companies must cater to. For that reason, we have evolved into a learning platform that offers the complete spectrum of teacher-led & self-paced learning environments. With the funding, we will be able to continue to build our technology product, attract the best talent, and expand to new geographies in MENAP,” said CEO of Orcas, Hossam Taher.
What the Investors have to say:
“Our investment in Orcas encompasses everything we’ve built CASF for. The fund was designed to double down and invest in our best-performing startups and to continue supporting amazing founders like Hossam and Amira to build great businesses. We are very proud of Orcas’ performance so far, and we are confident that with this latest investment, they will continue to be market leaders within the space and will now be able to add more exciting educational solutions using cutting edge technology and to bring these products to new markets,” said Aly El Shalakany, CEO of the Cairo Angels Syndicate Fund.
“Access Bridge Ventures continues to build on its deep global expertise in the education sector, and Orcas is our second investment since our launch in 2021 in Edtech. We invest in innovative ideas, marketplaces, and technologies that will disrupt the traditional education model and create easier, better, and cheaper education access for kids globally. The team from Orcas is a perfect example of a strong team with strong technology that is looking to address a key emerging market problem.”, said Issa Aghabi, Managing Director at Access Bridge Ventures.
“With our visions aligned, this JV brings the best of both worlds. I am personally excited to see the outcome of joining forces between EdTech pioneers and innovators alongside established industry players; moreover, the benefit and impact that this partnership shall have on the students and their families.” – Ahmed El Kalla, CIRA Board Member and Managing Director of NFX Capital.
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