Riyadh - Sharikat Mubasher: The Saudi-based edtech startup, Noon, secured SAR 153 million in a Series B funding round co-led by Wa’ed Ventures and Raed Ventures, a recent press release revealed.
SVC, STV, Riyadh Valley Company, Endeavor, Sanabil 500, Qyem Development Holding, Nahlat Alarab Holding, and other strategic investors participated in the funding round.
Noon will allocate the proceeds to enhance its AI-powered solutions to offer personalized learning experiences and fuel its global expansion within the next two to three years.
Mohammed Aldhalaan, Co-founder and CEO at Noon, stated: “Our goal is to introduce unparalleled engagement levels within the classroom while providing students with the opportunity to learn from exceptional educators.”
Noon has served over 12 million students across the Middle East and North Africa (MENA) region and Pakistan through its innovative peer-to-peer and social learning approach.
Fahad Alidi, Managing Director at Wa’ed Ventures, affirmed that Noon is one of the few emerging companies that established a lasting impact on the regional startup ecosystem by being both a successful business model in a challenging sector and a true agent of change.
Meanwhile, Omar Almajdouie, Founding Partner at Raed Ventures, commented: “Co-leading this round with Wa’ed Ventures, the VC arm of Saudi Aramco, and the participation of great, globally oriented investors such as Endeavor Catalyst will only boost the potential of Noon to grow further and to continue disrupting how people learn.”
“We're proud to double down on our investment in Noon and co-lead its Series B Round. The company has built an exceptional platform experience for students and teachers that delivers new approaches to learning and has demonstrated the ability to scale in various markets across multiple geographies,” Almajdouie added.
Founded in 2013 by Aldhalaan and Abdulaziz Alsaeed, Noon is a social learning platform that adopts artificial intelligence solutions to make learning a more joyful, collaborative, and innovative experience.
