DUBAI 12 March 2019: Coded Minds, a fast-growing education technology firm, has announced the closing of its
latest round of funding from a single investor, Alarabi Investments, which has become a significant minority shareholder.
Coded Minds Limited is now valued at Dh40 million.
Coded Minds offers a variety of modernized project-based courses taught across the UAE’s private and public schools. The company is licensed by Knowledge and Human Development Authority. It 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 believe that this partnership 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 and 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.”
Farooqui said that the collaboration is part of Coded Minds’ global expansion strategy. “This year, Coded Minds will be expanding its operations into Saudi Arabia, while further solidifying its UAE operations and starting to look into Asia namely Pakistan for opportunities”
Farooqui said his company not only provides technology focused and integrated courses but is also on a mission to bring about a revolution in the education sector in the classroom and beyond through the implementation of technology and a revolutionary business model. “Learning must be continuous, enjoyable and life-long and not time bound whether at primary, secondary or higher education and the methodology of delivery of subject matter needs radical rethinking,” he said.
Based in Dubai International Financial Center (DIFC) since March 2018, Alarabi Investments focuses on delivering change, value and impact through investment in prospective opportunities. This investment is the company’s second, after successfully investing in a Saudi healthcare startup that is powered by artificial intelligence, also a disruptive business model and the first of its kind in the region. It is also in line with Saudi Arabia Vision 2030 and the fund is geared towards supporting this vision.