Had Telecom closes an initial investment round in cooperation with Dar Al Majid Investment for $5 million

HAD Telecommunications and Information Technology Company, specializing in educational technology, has successfully concluded its first investment round in collaboration with Dar Almajd for Investment, with a value of 18.75 million Saudi Riyals (equivalent to 5 million US dollars).

HAD aims to establish a studio dedicated to developing educational technology projects. This announcement follows the launch of a series of products, starting with the “Teach Me Arabic” application as its first product in 2020, followed by the “Arabic Lexicon” product, and then “Arabic on Air”.

Currently, the company is working on developing a new set of products, including “Arabic Academy”, “Teach Me Hajj”, “Kalaman” application, in addition to the “Educational Designer” platform.

On this occasion, Amin Al-Zahrani, the CEO and co-founder of HAD, expressed his gratitude to Dar Almajd for Investment for the strategic partnership that will significantly contribute to the company’s business development, expanding its customer base, and exploring more promising opportunities in the field of educational technologies and e-learning products.

Nasser Almajd, the CEO of Dar Almajd for Investment, expressed great confidence in HAD’s ability to deliver innovative educational technology products that contribute to the development of the educational process. This comes amid the notable growth in the e-learning sector in the Saudi, regional, and global markets.

Almajd added that what distinguishes HAD is its unique model that focuses on designing and developing its own educational products, alongside implementing high-quality educational projects for government entities and the private sector.

This provides the company with the financial balance and practical experience necessary to achieve its vision of being the top choice as a studio for developing and attracting creative projects for startups in the educational technology field.

Investing in educational technology is an essential part of the future vision for many companies, as they aspire to innovate and evolve in this rapidly growing field. Strategic partnerships between startups and investment companies, such as the partnership between HAD and Dar Almajd for Investment, reflect the commitment of both parties to enhance innovation and growth in the educational technology sector.

With educational institutions increasingly moving towards digitization and remote learning, technology and innovation play a vital role in improving the quality of education and reaching wider segments of society. Therefore, investing in companies like HAD is a smart strategic step to contribute to achieving these goals.

Thus, the announcement of the closure of HAD’s first investment round marks an important step in its journey towards success and growth in the field of educational technologies.

It is expected that the company will continue to develop its products and offer innovative educational solutions that meet market needs and contribute to the development of the education sector as a whole.