Almentor to IPO this year? Edtech platform Almentor is working towards listing its shares on an international stock exchange — most likely Nasdaq — by the end of the year, the company’s CEO Ihab Fikry told Al Mal. Fikry did not disclose how much the company was looking to raise or how much of the company would be offered up.

Almentor? Almentor is an online learning platform that provides educational content in digestible short video clips in Arabic and English on topics ranging from sports nutrition to machine learning and everything in between. The company was founded in 2016 by the Egyptian Abdelrahman Fahmy (LinkedIn) and Ibrahim Kamel (LinkedIn), alongside the Emirati Fikry (LinkedIn), Hesham Heikal (LinkedIn), and Husni Khuffash (LinkedIn). The company operates in both Egypt and the UAE and has its HQ in Dubai.

Pre-IPO investments are also in the works: The company is also in talks with investment funds to raise USD 10 mn that will help — among other things — finance the use of artificial intelligence on its platform and set up marketing campaigns.

Ten seems to be Almentor’s magic number: The company closeda USD 10 mn pre-series C round led by Etisalat’s VC arm in March 2023. Sawari Ventures and Egypt Ventures, the International Cooperation Ministry’s VC, made follow-on investments, along with Partech, Sango Capital, and Endure Capital.

Almentor has big plans ahead: Almentor has plans to reach 50 mn learners in the next 30 years as education methods start relying more and more on digital tech.

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