Home Dubai News UAE's Amanat invests $5m into edtech outfit BEGiN

UAE’s Amanat invests $5m into edtech outfit BEGiN

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.

Opinion: how Edtech will keep our students on track during Covid-19

UK’s Trade Commissioner for the Middle East says Edtech is here to stay and will continue to play a key role long after the coronavirus crisis

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.

UAE's Amanat invests $5m into edtech outfit BEGiN

Arabian Business: why we’re going behind a paywall

For all the latest education news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.



News Source

UAE's Amanat invests $5m into edtech outfit BEGiN
Pen Pusher Hackette
Pen Pusher Hackette is a content media organization that focuses on creating the most authentic content available on the internet. Apart from just writing the content for internet consumers, the organization also focuses on inventing the right marketing tool to help businesses target their potential consumers. From Entertainment to the knowledge-based information, we cover all aspects to connect with the billions of internet consumers.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Russia and Saudi Arabia step up oil diplomacy

Russia and Saudi Arabia held a second, and unusual, phone call this week to discuss the OPEC+ agreement after officials from the group warned...

Lens on J&K schools ‘motivating kids to become terrorists’: DGP | India News

NEW DELHI: Some school-cum-religious-education-centres in Shopian and Pulwama are under the watch of intelligence agencies and Jammu & Kashmir police...

Gulf currency pegs offer silver lining in era of weaker dollar

Dollar declines could give a boost to non-oil industries like tourism once the pandemic eases More than a decade ago, Gulf Arab nations struggled to...