Jordan-based edtech startup Wajeez has raised $3 million in a pre-Series A round, led by STV with participation from Shorooq Partners, Mawdoo3, and Wise Venture.
Founded in December 2020 by Mohammad Zatara and Rami Abu Jbara, Wajeez focuses on providing Arabic summaries for global and local non-fiction literature.
Wajeez claims to have amassed up to 800,000 users on its app-based platform in seven months, offering more than 3,500 Arabic summaries.
The new investment will help Wajeez add new services such as shortened podcasts, establish new B2B partnerships, and expand into other languages like Turkish and Urdu.
Wajeez, the Jordan-based edtech startup and book summary platform has successfully closed a pre-Series A funding round at $3 million. The round was led by STV with the participation of Shorooq Partners, Mawdoo3, and Wise Venture.
Founded in 2020, Wajeez is working towards closing the gap between the Arabic-speaking Middle East and North Africa (Mena) users, comprising 7 per cent of the world’s internet users, and Arabic content constituting only 3 per cent of overall content through their app-based platform compiling 3,500+ Arabic summaries of global and local non-fiction literature.
Since its official launch, the company amassed an audience of 800,000 users in just 7 months by providing a carefully curated selection of summaries for the most popular non-fiction books. After deep vetting and content control, Wajeez produces easily consumable summaries as co-founder and CEO Mohammad Zatara highlights “People in the region often have a preference for shortened summaries of books and content, rather than full books. Through Wajeez, we offer anyone the opportunity to distil the main points from the most popular and award-winning non-fiction books, in Arabic, saving people the time while still extracting the key points.”
This spectacular fund comes as a booster and a promising sign for Wajeez, Talal Damen, Senior Associate at STV, concludes “We are happy to partner with a fast-growing startup like Wajeez, which marks our first investment in the Levant. With the largest library of non-fiction summaries in the region, the company has created a flywheel that only gets stronger with more time, content, and listeners. We believe this to be a significant whitespace in the region, and are excited to partner with Mohammad and Rami on their journey.”
Through this newly acquired fund, Wajeez plans on expanding its offering: developing shortened podcasts “WajeezCast”, B2B partnerships, and expanding into other languages like Turkish and Urdu as its next frontier.