Legal Edtech Startup Kouncel Nets $1.2M In Pre-Seed Round Led By Zaldi Capital
Edtech startup Kouncel gathered funding of US $1.2 million in pre-seed for the development of its product.
The Global Edtech market is forecasted to reach a value of $40 billion by the end of this year. Moreover, the market will grow exponentially by 2027 and will hit the value of $ 605.40 billion. This is mainly due to the increase in the development of edtech mobile apps and software. Moreover, the wide range of advantages like accessibility, remote learning, and high engagement rates have made these platforms popular. This is also one of the main reasons that governments around the world are concentrating their efforts on nurturing these platforms. As of recently, the UAE’s ministry is expected to expand its budget on e-learning initiatives by 60%.
In terms of growth in the Edtech sector, the Middle East region is witnessing rapid expansion. As per the figures, edtech will reach a value of $7.07 billion. This has also caused the investors to pour down their money into edtech startups. As recently an Egyptian startup Kouncel providing legal education has gathered funding of US $1.2 million in pre-seed funding round. The startup will develop its product and scale its market across the wider MENA region.
Edtech has gathered this hefty amount of money from prominent investors. Such as the funding round was led by Zaldi Capital. With the participation of the African Development Bank, Academy for Scientific Research and Technology (ASRT), and Egyptian entrepreneurship development project Tanmia. The startup is very young but has successfully garnered the attention of the masses.
Founded in 2022 by Ibrahim Saleh and headquartered in Cairo the online education platform brings a diverse range of courses for lawyers. Like legal drafting, arbitration, and intellectual property based on different jurisdictions. Kouncel.com firstly aimed to reach thousands of learners and then expanded to provide premium customized courses to individuals, companies, and enterprises in Egypt and Gulf region.
Talking about the platform to Edtech Review, Founder and CEO of Kouncel, Ibrahim Saleh, said
“Education forms a key part of Egyptian Economic Vision 2030, and law plays an important role in creating a healthy environment for businesses and pushes FDIs forward. and we aim to provide a highly sophisticated education experience to everyone in the legal field which will positively impact the ecosystem.”
He further added:
“Legal education has never been easier – discover various topics in the legal field and master law with Mena’s top counsels.
This Edtech startup is the first legal edtech startup providing a modern learning experience in the MENA region based on their different jurisdiction. This has also led the investors to steer their investment in Kouncel. But Kouncel is certainly not the first edtech startup to receive funding. As recently women-focused Edtech Startup PLAYBOOK gathered $700K in pre-seed funding. Also, another startup Hello Kids bagged the undisclosed amount of funding.
Kouncel is different from other Edtech startups. As it has a wide range of courses and each learning sequence comprises short videos with the inculcation of interactive learning exercises. The courses also include tutorial videos that are quite similar to the small on-campus discussion groups. And an online discussion forum where students can post comments and review questions to each other and teaching assistants.