Egypt-Based EdTech Emonovo, Raises Bridge Fund Round
MENA region’s leading Ed-tech platform, Emonovo (formerly MARJ3) has just raised an undisclosed bridge round of funding from strategic angel investors from US, Europe and the MENA region, which also includes follow-on investment from Flat6Labs. The participating angel investors compile extensive working experience in giant companies like META, Klarna, Alan, as well as prominent VC and Private Funds while having distinguished backgrounds in EdTech, FinTech, HR, and investment sectors.
Marj3 platform was founded by Abdo Samy, Sami Al-Ahmad, and Ahmed Elgebaly in July 2016 as a comprehensive database containing educational opportunities worldwide for Arab youth in a simplified way. In 2017, within less than a year after its establishment, the platform obtained pre-seed funding from Flat6Labs’ FAC Egypt Fund, which enabled them to grow and reach a far larger segment of the target audience in the Middle East, achieving more than two million monthly visitors on Marj3’s website.
In 2020, as they continued to grow, they managed to obtain a new investment round from a US-based investor (Expert Dojo), synchronizing with the launch of Marj3 education services to help students in the Arab region find the best suitable universities for them worldwide. Then, after a short period, Marj3 managed to secure partnerships with more than 300 universities globally in various fields.
In 2022, the 3 co-founders decided to support students fully from A to Z in their experience to follow their educational journey. They shifted from scholarships to university and student matching arena. In March 2022, Marj3 became Emonovo with some internal and external adjustments and new branding.
“This strategic investment round is going to help us make Emonovo available to more students than ever before. Our mission is to help students achieve their educational dream, and I am super excited that our investors are aligned with us on making our unique solutions and technology experience available for everyone soon,” said Sami Al-Ahmad, CEO and co-founder at Emonovo.
The investment is aimed at boosting the startup’s new brand strategy and fuelling the growth of university onboarding and student recruitment through the platform. It will also be used to update the platform’s technology to optimise matching and data management.