Saudi-Based HAD Raises $5M in Pre-Seed Round to Boost Its Expansion

HAD, a Saudi educational technology platform, has raised a significant $5 million pre-seed round led by Dar Al Majed Investment, marking an important milestone in its growth trajectory. With this financing round, the company aims to support its expansion and innovation efforts by establishing a dedicated business studio to foster educational technology initiatives.

With successful projects like the Teach Me Arabic application and Arabic Dictionary, HAD expands its offerings with new products like the Arabic Academy and Teach Me Hajj, establishing itself as a leader in the developing e-learning market. Since its inception in 2020, the startup has achieved success with noteworthy products, including the Teach Me Arabic app, the Arabic Dictionary, and Arabic on the Air.

A significant aspect of Saudi Vision 2030 is the emphasis on education sustainability, focusing on developing comprehensive frameworks for flexible learning. In keeping with this aim, Saudi EdTech companies like HAD are essential in achieving these ambitious educational targets.

Building on its success, the company constantly expands its product offerings by developing new ones, such as Teach Me Hajj and the Arabic Academy. According to recent market analysis, the global e-learning business will produce more than $15 billion in revenue in 2021. From 2021 to 2028, it is predicted to expand at a compound annual growth rate of 6.5%.

Majd is a prestigious investment company that manages the wealth of the illustrious Al Majdouie family. Driven by well-defined investment strategies, the company aims to provide compelling risk-adjusted returns to its stakeholders. Inspired by its founder, Shaikh Ali Al Majdouie’s vision and values, the firm adheres to responsible investing principles, connecting its strategies with local and global sustainability goals. With a strong emphasis on industries and sectors forging a brighter and more sustainable future, it aspires to make responsible investments that benefit society and the environment.

For regular updates about Moodle, eLearning and edtech industry, please visit us regularly at https://lmsdaily.com. You can also like us on Facebook or follow us on Twitter, or Subscribe our YouTube Channel.