SBX Capital & Farah AlHumaidhi Acquire 40% Stake in Edtech Dawrat
Dawrat will now look to increase the scope of its course offerings and introduce new features for its platforms.
SBX Capital, a Kuwait-based venture capital firm, and Farah AlHumaidhi, a renowned interior designer and entrepreneur, have acquired a 40% stake in Kuwaiti edtech marketplace Dawrat. Since it was founded in 2011, Dawrat has served as a source of Arabic-taught courses and workshops, initially listing local lessons in Kuwait and growing to provide more than 10,000 courses to over 100,000 users all over the MENA region. And with the Coronavirus pandemic showing the importance of online educational platforms throughout 2020, when Dawrat started hosting online 'live' courses, the platform experienced exponential growth which caught the attention of investors like SBX Capital.
“The pandemic really asserted the importance of edtech," read a statement from Dawrat. "At Dawrat, we saw growth rates that surpassed 600%. 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.”
Farah AlHumaidhi - who, in addition to her entrepreneurial work, is a Dawrat instructor as well - will act as Chairwoman as part of the deal.
"Over the course of my career, I have experienced first hand the power of sharing knowledge, and moreso its magnified effect when done over the internet, at scale, on platforms such as Dawrat," Farah AlHumaidhi said. "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." With this investment, Dawrat looks to increase the scope of its course offerings and introduce new features for its platforms.
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