SBX Capital and Farah AlHumaidhi acquire 40 per cent of Dawarat
SBX Capital and Kuwait-based interior designer and entrepreneur Farah AlHumaidhi, have acquired 40 per cent of Kuwait-headquartered edtech marketplace Dawrat.
Co-founded in 2011 by Mohammad Al Suraye and Yousef Bonashi, Dawrat offers over 10,000 courses in Arabic catering to more than 100,000 users across the Middle East and North Africa (Mena) region.
“The pandemic really asserted the importance of edtech. At Dawrat, we saw growth rates that surpassed 600 per cent. Our mission has always been to merge technology and high quality education in a simple platform that’s made by Arabs, for Arabs. We’re excited for bigger milestones to come with the support of our investors,” the founders said in a statement.
With the support of its new investors, Dawrat plans to expand its course offerings, introduce new features, and grow its market share more aggressively across the region.
ِِAlhumaidhi will also act as chairwoman of Dawarat as part of the deal.
“Over the course of my career, I have experienced first hand the power of sharing knowledge, and more so its magnified effect when done over the internet, at scale, on platforms such as Dawrat. Today I am excited to help facilitate education beyond my profession of interior design, to include technology, business, history, and a variety of other sciences and arts offered on Dawrat,” said Farah AlHumaidhi.
During the pandemic, the company launched its online ‘live’ courses, as part of its efforts to meet the growing demand for edtech solutions in the region.
“Dawrat is well-positioned to become an enabler for the 400 million-plus Arabic-speaking population of the Mena region, opening doors and opportunities for Arab youth foraying into the ever changing landscape of the future,” said Saoud AlHumaidhi, adding that the shift online is only the beginning of the disruption the education industry will see in the coming decade. “AlHumaidhi’s backing of Dawrat feeds directly into SBX Capital’s strategy of investing in technology companies that are disrupting highly antiquated legacy industries.”