Dubai-based education-tech disruptor closes funding round
Coded Minds, a Dubai-based education technology firm, has announced the closing of its latest round of funding from a single investor, Alarabi Investments. Alarabi Investments has become a significant minority shareholder in Coded Minds Limited, therefore, valuing Coded Minds at AED 40 million with this round of funding.
Coded Minds, which is licensed by the KHDA, offers a variety of modernized project-based courses taught across the UAE’s private and public schools. It has developed a disruptive business model that is expected to change the dynamics of the education sector. This new approach is expected to capitalize on the relatively younger population of GCC countries.
“It is our mandate to invest in the next generation’s disruptive businesses with mass scalability in the GCC and beyond. Education especially iSTEAM fits perfectly in our agenda,” said Mohammad Alghaith, CEO of Alarabi Investments.
The education technology company not only provides technology-focused and integrated courses but also is on a mission to bring about a revolution in the education sector in the classroom and beyond through the implementation of technology and a revolutionary business model. Coded Minds is also planning to expand into Saudi Arabia.
“We are committed to forming new education paradigms for our children, in order to equip them with the right skills and prepare them for future challenges. This partnership will allow Coded Minds to not only execute on its UAE expansion plans but also to further enter into Saudi Arabia as a key market immediately while continuing to develop and enhance our course offerings” said Omar Farooqui, Founder and Chief Innovation Officer of Coded Minds.
Based in Dubai International Financial Center (DIFC) since March 2018, Alarabi Investments aims to deliver change, value, and impact through investment in prospective opportunities. This investment is the company’s second, after successfully investing in a Saudi healthcare startup that is powered by artificial intelligence, also a disruptive business model and the first of its kind in the region. The fund is geared toward supporting Saudi Arabia’s Vision 2030.