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Monday, 10 December 2018

Algebra Ventures raises USD 1.265 in series “A” funding round for Jordanian ed-tech platform Little Thinking Minds

INVESTMENT WATCH- Algebra Ventures leads USD 1.27 mn series ‘A’ round for Jordan’s Little Thinking Minds: Jordanian education technology platform Little Thinking Minds (LTM) raised USD 1.265 mn in a series A funding round led by our friends at Algebra Ventures, the firm said yesterday (pdf). Mindshift Capital and Al Turki Group also joined the round. LTM will use the investment to expand its product portfolio and “empower our product platforms with data tools and analytics that will improve student learning journeys and their outcomes,” says LTM co-founder Rama Kayyali. “Arabic literacy is increasingly important and has been largely underserved. Little Thinking Minds is filling this gap and supplementing stressed education systems by providing high quality Arabic-language learning resources,” says Algebra Ventures Managing Partner Karim Hussein. Some 80k students at 200 schools use LTM products.

Algebra, a USD 50 mn Cairo-based VC fund, has led or participated in multiple funding rounds this year, including a USD 1 mn series A round in gown rental platform La Reina, a USD 1.5 mn round for Jordan’s POSRocket, a USD 600k series A round for real estate platform iCommunity, a USD 16 mn series C round for Dubai-based HolidayMe, and a series A round for tuk-tuk and motorcycle ride-hailing app Halan.

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