Jordan's Abwaab raises $20 million Series A led by BECO Capital

Abwaab, an education technology company based in Jordan, raised $20 million in a Series A funding round reported on November 15, 2021. The round was led by BECO Capital, a venture capital firm based in the United Arab Emirates.

Other participants included US firms 4DX Ventures and GSV Ventures and Saudi Arabia's Watar Partners, along with additional investors. Combined with a $5 million seed round closed in March 2021, the deal took Abwaab's total funding to $25 million. The company said it would use the new capital to enter additional markets and to keep growing across the region. It reported a tenfold increase in active users over the 2020-21 academic year.

Launched in late 2019, Abwaab provides learning content matched to national curricula for secondary school students. The material is delivered through its website and mobile apps under a freemium subscription model, in which some content is free and the rest is paid. At the time of the round the company operated in Jordan, Egypt and Pakistan. It had entered Pakistan after buying local startup Edmatrix following its seed round earlier in 2021.