Noon Education closes a 153 million riyal Series B investment ‎round led by Wa’ed Ventures and Raed Ventures

Noon Education, the leading Saudi educational technology company in the Middle East and North Africa region, announced the closing of a Series B investment round worth $153. One million Saudi riyals (41 million US dollars), led by the venture capital funds Waed Ventures and Raed Ventures. A number of strategic investors, such as the STV Fund and the Riyadh Valley Company affiliated with King University, also participated in the round. Saud, Endeavor International Group, Sanabel Joint Fund with Global 500 Fund, Qayyim Al-Tatweer Investment Company, and Nahla Al-Arab Holding Company. ‏

Noon Education has been able to teach more than 12 million students around the world over the past years by integrating social learning solutions and peer learning tools with fun and competition and connecting them with the best distinguished teachers, which has led to increased levels of interaction and integration among students within the classroom. default; It contributed to increasing the impact of distinguished teachers to a larger group of students, doubling the contribution of a specific group of teachers (50 teachers) to approximately six million students on the platform, opening the way for a wide range of students to access a distinguished quality of teachers and obtain A unique educational experience, especially for students in remote areas

In confirmation of its commitment to providing the latest developments in educational technologies, Noon Education seeks through this tour to develop and improve the students’ experience in traditional classrooms by working to integrate its virtual solutions with those classrooms using artificial intelligence technologies, which reduces the gap between traditional education methods. And modern technical developments in the education sector

Commenting on the tour, Mohammed Al-Dalaan, co-founder and CEO of Noon Education, said: “The Noon platform was established to bring about a radical change in the way students learn by adopting easy technical solutions that suit the needs of students and teachers, and this represents our expansion to target traditional classrooms and integrate our technologies.” Modern technology is the ideal solution to stimulate levels of participation among students within these classes and provide them with the opportunity to learn from exceptional teachers who have proven their academic skills well.”

Noon was founded in 2013 by entrepreneurs Mohammed Al-Dalaan and Dr. Abdulaziz Al-Saeed, with the aim of providing a modern education platform to the widest segment of students in the region, to lead the most prominent e-learning platforms in the Middle East and North Africa region in terms of the number of registered students and the total number of students. The value of the venture capital investment raised since inception. The founding team plans to increase the percentage of currently benefiting students within the targeted countries over the next few years in a market in which there are more than 190 million students.

For his part, Omar Almajdouie, co-founder of Raed Ventures Fund, said: “We are proud to strengthen our investment in the “Noon Education” platform by participating in leading the current Series B round with Wa’ed Ventures Fund and alongside a global group of investors, which will contribute to stimulating… The platform has developed and grown more and more. The company has succeeded in developing an exceptional experience for students and teachers that provides new methodologies for learning, and the founding team has proven their ability to expand in different markets and in multiple geographical regions during the short period since the company was established.”

Engineer Fahd Al-Eidi, Managing Director of Wa’ed Ventures Fund, said: “The Noon Educational platform was able to take the lead in the educational technology sector in the region and innovate in making a positive and tangible impact as it is one of the rare startup companies that succeeded in developing a traditional and sensitive sector such as the education sector.” We look forward to partnering with entrepreneurs Mohammed and Dr. Abdulaziz and supporting their mission to create a qualitative shift in the field of education to benefit a new generation of students regionally and globally.”

With the spread of AI technology, an increasing number of global education technology startups intend to integrate AI-based solutions into their platforms to provide personalized learning experiences and identify knowledge gaps in school systems and traditional teaching methods. Noon’s adoption of artificial intelligence will help maintain its regional position as a leading educational platform as the company prepares for its global expansion over the next two to three years, according to the founding team.