What is the concept of Almentor and how did the idea for it come about?
Fikry: Almentor.net is an online video-based continuous learning platform. I had millions of viewers on social media and TV where I used to deliver my knowledge and experience in management to young people. I also lectured in universities and authored several books alongside my full-time job. This inspired and encouraged me to build an online platform that provides knowledge to all Arabs around the world as I witnessed the high demand for Arabic content and the lack of courses available for young Arabs that don’t speak other languages. I eventually decided to resign from ExxonMobil after over 20 years, as did the co-founder of Almentor, Ibrahim Kamel, leaving behind us 7-digit severance packages to devote 100 per cent of our efforts to bring our dream to life.
Give us an overview of the Arab e-learning market size?
Fikry: According to our market research, the addressable market is a population of over 400 million individuals, 60 per cent of whom are between the ages of 18 to 40, across both genders – our target audience. Moreover, about 25 million people are ready as of 2021 to consume continuous content online in the MENA region with a potential to reach 100 million by 2030 at an average annual spend of $30-40 per learner.
You recently received $6.5m in a Series B funding round. To what end will this new injection of capital be used?
Kamel: Partech led this financing round, with the participation of Sawari Ventures, Egypt Ventures and Sango Capital, thus bringing the total financing that the company has garnered since its inception to $14.5m. The new injection of capital will be used towards upgrading the learning experience and the range of products, as well as to hire and retain additional talent.
Who are some of the high-profile personalities that will offer courses at Almentor?
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