Amman-based accelerator and seed investor Oasis500 has announced partial exit from Jordanian edtech startup Little Thinking Minds. The announcement was made last week.
Founded in 2004 by Rama Kayyali and Lamia Tabbaa who were joined by the third co-founder Salwa Katkhuda afterwards, Little Thinking Minds originally used to create educational content in form of videos and other things for children, before transforming recently into an educational technologies and products provider, that creates digital solutions and platforms with the aim of improving learning outcomes for school aged children in Middle East & North Africa and beyond.
The startup had raised $1.265 million Series A in December last year at a valuation of [redacted]. According to the publicly available data, Oasis 500 was the first investor in Little Thinking Minds – having invested $230,000 in 2011.
Luma Fawaz, the recently appointed CEO of Oasis500, commenting on the occasion, said, “Our objective as an early stage investor in startups is to sell shares in these companies after reaching certain level of growth that usually takes a seven year period. The first investment fund was established in 2011 and has matured and we’ve started selling our shares in the companies that are now in their growth stage.”
“Little Thinking Minds and the great team behind it are an inspiration to all Jordanian startups,” she added.
Rama Kayyali, Co-founder and CEO of the startup, said, “We’re very proud to have been a success story for Oasis500 and certainly joining their accelerator was a turning point for us. Now in our growth phase, we plan to expand our product portfolio as well as empowering our product platforms with data tools and analytics that will improve student learning journeys and their outcomes. We wish to capitalize on our strong traction, perfect the user journey in terms of learning outcomes and user experience, and become the educational platform and partner of choice across the region.”
Last month, Bahrain-based angel network Tenmou had also announced its partial exit from restaurant booking platform Eat. The exit had generated 20x return for Tenmou.
Update: After receiving a request from Little Thinking Minds, the valuation of their Series A was removed from the article.
Latest posts by MB Staff (see all)
- Rush Brush witnesses increased consumer demand during pandemic - September 21, 2020
- Saudi angel groups Riyadh Angels and Najd Angels announce merger - September 14, 2020
- Kuwait’s Boutiqaat looking to raise fresh funds at a valuation of up to $1 billion: report - June 25, 2020