Cairo-based edtech startup Colnn has raised a $100 000 seed round from EdVentures, the venture capital (VC) arm of Egypt’s Nahdet Misr Publishing Group.
The four-year-old startup was founded by Tamer Samir (pictured above, right) and has developed a school management software which it provides as a service.
No ad to show here.
Colnn’s service comprises a web cloud-based solution for schools, as well as an integrated mobile app which connects teachers, parents and students.
The startup currently work with about 30 schools in Egypt. Over three thousand registered users currently use Colnn’s app, this while the startup plans to raise this figure to 20 000 by the end of this year.
Egyptian edtech Colnn was founded in 2015 by Tamer Samir
The Nahdet Misr Publishing Group explained in a statement on 14 July that Colnn’s service helps schools manage their internal processes, departments, activities, as well as optimises the usage of available resources.
Samir, commenting in an earlier statement, said joining EdVentures will support the startup’s expansion plans.
EdVentures was launched in 2017 and invests seed and pre-Series A rounds in startups from Egypt, Africa and the Arab world with solutions and products in education, innovative learning and culture.
In addition to funding, the VC also provides its investees with technical assistance through its in-house incubation programme, which Tamir said Colnn underwent for six months.
The VC said in the same statement that it is “always open”to expand its portfolio and called on interested startups to apply for funding through its website or via email.
Editor’s note (24 July 2019): Colnn founder and executive manager Tamer Samir subsequently told Ventureburn in an email on 23 July that the deal is the first funding the startup has raised, with the company having bootstrapped since launch.
Samir hinted that Colnn will within the next few months sign deals in Gulf Co-operation Council (GCC) and Middle East and North Africa (MENA) countries. He did not disclose the names of these countries.
Featured image: EdVentures, Colnn deal signing (Supplied)
