DUBAI: Coded Minds, a fast-growing education technology firm, has announced the closing of its latest round of funding from a single investor, Alarabi Investments.
By investing Dhs10 million, Alarabi Investments has become a significant minority shareholder in Coded Minds Limited therefore valuing Coded Minds now at Dhs40 million with this round of funding.
Coded Minds offers a huge variety of modernised project-based courses taught across the UAE’s private and public schools. The company is licensed by Knowledge & Human Development Au- thority (KHDA). The company has developed a disruptive business model that is expected to change the dynamics of the education sector. This new approach will capitalize on the relatively younger population of GCC countries.
“We welcome a fabulous partner like Alarabi Investments onboard and believe that this partner- ship will allow Coded Minds to not only execute on its UAE expansion plans but also to further enter into Saudi Arabia as a key market immediately while continuing to develop & enhance our course offerings” said Omar Farooqui, Founder and Chief Innovation Officer of Coded Minds.
Mohammad Alghaith, CEO of Alarabi Investments, called this an organic collaboration. “It is our mandate to invest in next generation’s disruptive businesses with mass scalability in the GCC and beyond. Education especially iSTEAM fits perfectly in our agenda. We are also excited to be part of Coded Minds’ noble agenda of spreading knowledge among the next generation around the world,” said Alghaith.
Omar Farooqui said that the collaboration is part of Coded Minds’ global expansion strategy.