EdTech firm Noon from Saudi Arabia secures $41 Million in series B funding

Saudi Arabia's educational tech startup, Noon, recently garnered $41 million in its Series B financing round. Wa'ed Ventures and Raed Ventures spearheaded the funding alongside notable investors such as STV, SVC, Riyadh Valley Company (an offshoot of King Saud University), Endeavor, Sanabil 500, Qyem Development Holding, and Nahlat Alarab Holding.

Established in 2013 by Mohammed Aldhalaan and Abdulaziz Alsaeed, Noon delivers a unique peer-to-peer social learning application for students in the MENA region and Pakistan. The influx of funds will be channeled into enhancing its AI-driven tools for personalized learning experiences and will also facilitate its international growth ambitions in the upcoming years.

Mohammed Aldhalaan, CEO and co-founder of Noon, shared with StartupScene, "Our mission is to revolutionize the learning process. As we venture into conventional classrooms, we aim to elevate engagement levels and give students access to top-tier educators."

The innovative social learning model of Noon has resonated with over 12 million students in the MENA area and Pakistan. The platform's remarkable achievement includes enabling 50 educators to teach six million students, thus democratizing quality education access, especially for distant locales.
Omar Almajdouie, Founding Partner at Raed Ventures, commented, "We are thrilled to amplify our commitment to Noon by co-leading this Series B round. Noon has skillfully crafted an unmatched platform for students and educators, showcasing fresh pedagogical methods and successfully expanding across diverse regions."

In the coming phases, Noon is poised to blend its thriving approach into traditional classrooms, emphasizing its dedication to global education accessibility and leveraging state-of-the-art generative AI techniques.