{"id":618387,"date":"2024-04-08T00:00:00","date_gmt":"2024-04-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/08\/edtech-platform-almentor-gears-up-for-an-international-ipo-this-year\/"},"modified":"2024-04-08T00:00:00","modified_gmt":"2024-04-08T00:00:00","slug":"edtech-platform-almentor-gears-up-for-an-international-ipo-this-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/04\/08\/edtech-platform-almentor-gears-up-for-an-international-ipo-this-year\/","title":{"rendered":"Edtech platform Almentor gears up for an international IPO this year"},"content":{"rendered":"

Almentor to IPO this year? <\/strong>Edtech platform Almentor<\/a> is working towards listing its shares on an international stock exchange \u2014 most likely Nasdaq \u2014 by the end of the year, the company\u2019s CEO Ihab Fikry told Al Mal<\/a>. Fikry did not disclose how much the company was looking to raise or how much of the company would be offered up.<\/p>\n

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

Pre-IPO investments are also in the works: <\/strong>The company is also in talks with investment funds to raise USD 10 mn that will help \u2014 among other things \u2014 finance the use of artificial intelligence on its platform and set up marketing campaigns.<\/p>\n

Ten seems to be Almentor\u2019s magic number: <\/strong>The company closed<\/a>a USD 10 mn<\/a> pre-series C round led by Etisalat\u2019s VC arm in March 2023. Sawari Ventures and Egypt Ventures, the International Cooperation Ministry\u2019s VC, made follow-on investments, along with Partech, Sango Capital, and Endure Capital.<\/p>\n

Almentor has big plans ahead:<\/strong> Almentor has plans to reach 50 mn learners in the next 30 years as education methods start relying more and more on digital tech.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company is also in talks to raise USD 10 mn that will help fund the use of AI on the platform<\/p>\n","protected":false},"author":1,"featured_media":618388,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7224],"tags":[8517,401,72,78,120,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-618387","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-almentor","tag-edtech","tag-enterpriseam","tag-ipo-watch","tag-nasdaq","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"041214c9-8e20-44f1-8b62-3cf67cfbd080","order":"0","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/4\/714.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Edtech platform Almentor gears up for an international IPO this year","related_issue":[618378],"teaser":"The company is also in talks to raise USD 10 mn that will help fund the use of AI on the platform","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/4\/.1ae96ba4-3d6e-4978-b1c9-abfff0fb4786.mp3"},"yoast_head":"\nEdtech platform Almentor gears up for an international IPO this year - 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Cairo streets are unusually quiet this afternoon and our inboxes are filled with OOO replies.In case you\u2019ve been under a rock all weekend, we are getting six days off for Eid: The public,\u2026","rel":"","context":"In "WHAT WE\u2019RE TRACKING TONIGHT"","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/2\/1498.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":556515,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/10\/28\/swvl-backer-vc-firm-chimera-capital-wraps-up-second-closing-of-its-maiden-fund\/","url_meta":{"origin":618387,"position":3},"title":"Swvl backer VC firm Chimera Capital wraps up second closing of its maiden fund","author":"enterpriseam admin","date":"28 October 2021","format":false,"excerpt":"Swvl backer Chimera Capital has exceeded its USD 50 mn target with the completion of the second close of its first VC fund, according to The Capital Quest. Chimera Global Fund is now looking to target investors for a third and final close it expects to wrap up this quarter,\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":615549,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/02\/20\/partech-closes-usd-300-mn-africa-focused-fund\/","url_meta":{"origin":618387,"position":4},"title":"Partech closes USD 300 mn Africa-focused fund","author":"enterpriseam admin","date":"20 February 2024","format":false,"excerpt":"The fund will invest in African tech startups with initial tickets of USD 1 mn-USD 15 mn in African startups","rel":"","context":"In "STARTUP WATCH-"","block_context":{"text":"STARTUP WATCH-","link":"https:\/\/enterpriseam.com\/egypt\/category\/startup-watch-2\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/643.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":562755,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/06\/edtech-platform-ischool-raises-usd-160k-from-edventures\/","url_meta":{"origin":618387,"position":5},"title":"Edtech platform iSchool raises USD 160k from Edventures","author":"enterpriseam admin","date":"6 June 2021","format":false,"excerpt":"Edtech platform iSchool raised USD 160k from Nahdet Misr Publishing House\u2019s venture capital arm Edventures, the company said in a press release (pdf). 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