A major telecom company has announced the acquisition of Iraq-based Eduba, an edtech platform, in a seven-figure deal, the exact value of which remains undisclosed. This acquisition highlights the rapid advancements in Iraq’s education and technology sectors.
Eduba: A Success Story Rooted in Baghdad
Founded in 2019 in Baghdad by Azad Hassan, Haider Shaban, and Raad Kazem, Eduba began as a school management app. It quickly gained accreditation from Iraq’s Ministry of Education, enabling widespread adoption among private schools.
Over time, Eduba evolved into a comprehensive educational platform catering to all stages of education, from kindergarten to high school. The company’s expansion plans included:
- Learning Management System: Offering a holistic educational experience.
- Advanced Communication Tools: Enhancing interaction between students, teachers, and parents.
- Fintech Solutions: Supporting education-related financial services.
- Transportation Services: Ensuring a seamless and comfortable educational experience.
Funding Challenges and Competitive Bidding
Despite its success, Eduba faced significant challenges in securing investments. Azad Hassan remarked:
“Most capital in Iraq seeks to control businesses entirely rather than invest in equity.”
However, the company managed to attract interest from two prominent Iraqi tech firms, resulting in a competitive bidding process that culminated in the acquisition by the telecom giant.
Iraq’s Education Sector: Immense Growth Potential
Iraq’s education sector is one of the most promising, characterized by:
- 13 million students across various educational stages.
- 2.2% annual population growth, driving demand for innovative educational solutions.
A Vision for Entrepreneurship in Iraq
Post-acquisition, Azad Hassan continues to focus on developing Iraq’s entrepreneurial ecosystem. His efforts include supporting digital economy projects, serving as an angel investor, and mentoring startups to foster innovation and build a sustainable business environment in Iraq.
Significance of the Deal
This acquisition marks a pivotal moment for Iraq’s edtech sector, showcasing the local market’s potential to attract tech investments. It reinforces the opportunities to advance digital education while highlighting the importance of integrating innovation with educational solutions to shape the future for coming generations.
