UAE’s Amanat Holdings has invested $5 million (AED18.4m) in US-based leading education technology company BEGiN as part of a Series C financing round.
BEGiN is behind the early learning programme HOMER and provides a platform aimed at children between two and eight-years-old.
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As part of the deal, Amanat, which is the GCC’s largest healthcare and education investment company, becomes BEGiN’s principle strategic partner in the MENA region.
Dr. Mohamad Hamade, CEO of Amanat, said: “Our investment in BEGiN represents a major milestone for Amanat given the influential impact of disruptive technologies on the sectors we invest in. We believe this is an ideal time to invest in education and healthcare technology, to evolve our current portfolio as well as position Amanat as a strategic regional partner amongst global players in this space.”
Amanat joins a list of strategic and financial investors, such as LEGO Ventures, Sesame Workshop, Gymboree Play & Music, 3One4 Capital, Trustbridge Partners and Interlock Partners.
“BEGiN is partnering with the largest, most recognized brands in international children’s education, entertainment, and technology to reimagine the early learning journey starting with parents and children at home. We look forward to our strategic partnership with Amanat to expand across the region supported by their strong positioning in the education sector.” said Neal Shenoy, CEO and co-founder of BEGiN.
The acquisition is Amanat’s first ever venture capital investment.
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