Emonovo (formerly MARJ3), the MENA region’s leading education technology company, has successfully raised an undisclosed amount in bridge round by strategic angel investors from US, Europe, and MENA and follow-on investment from Flat6Labs.
With this new investment, the startup plans to boost the new brand strategy and fuel the growth of university onboarding & student recruitment through the platform. It will also update its technology to optimize matching and data management.
Marj3 was founded by Abdo Samy, Sami Al-Ahmad, and Ahmed Elgebaly in July 2016 as a comprehensive database containing educational opportunities worldwide for Arab youth in a simplified way. The co-founders decided to support students fully from A to Z in their experience to follow their educational journey this year, and they shifted from scholarships to university and student matching arena. In March 2022, Marj3 became Emonovo with some internal and external adjustments and new branding.
Commenting on the funding, Co-founder & CEO of Emonovo, Sami Al-Ahmad, said:
“This strategic investment round is going to help us make Emonovo available to more students than ever before. Our mission is to help students achieve their educational dream, and I am super excited that our investors are aligned with us on making our unique solutions and technology experience available for everyone soon.”
Emonovo utilizes technology and data to match MENA youth to the best-fit majors and universities worldwide. The participating angel investors compile extensive working experience in giant companies like META, Klarna, Alan, as well as prominent VC and Private Funds while having distinguished backgrounds in EdTech, FinTech, HR, and investment sectors.
Dina El-Shenoufy, Chief Investment Officer of Flat6Labs, added:
“Flat6Labs has been a firm believer in Emonovo’s team and platform from day one. This investment is a testament to our belief in Emonovo’s mission to empower students in the MENA region in their educational journey. We’re excited to see how the team will develop their platform even further and support more potential students towards fulfilling their educational ambitions in the best universities around the world.”
Willie Elamien, an angel investor, also commented on the investment, saying:
“I am a firm believer in the power of education to transform people’s lives, and I’m super excited to be backing the team behind Emonovo.”
In 2020, as the startup continued to grow, and managed to obtain a new investment round from a US-based investor (Expert Dojo), synchronizing with the launch of Marj3 education services to help students in the Arab region find the best suitable universities for them worldwide. Then, after a short period, Marj3 managed to secure partnerships with more than 300 universities globally in various fields.
In 2017, Emonovo had secured pre-seed funding from Flat6Labs’ FAC Egypt Fund, which enabled them to grow and reach a far larger segment of the target audience in the Middle East, achieving more than two million monthly visitors on its website.