Amman-based seed investment company and business accelerator in tech and creative industries, Oasis500, has announced its partial exit from Little Thinking Minds, a Jordan-based regional education-tech company, following the startup’s latest financial round of $1.2 million in Series A at a valuation of $6 million from different regional investors.
The latest funding round came from a group of investors led by Algebra Ventures—a $50 million Cairo-based venture capital fund—with participation from Dubai-based Mindshift Capital and Saudi’s Al Turki Group. The latest financial round brings the total funding raised from investors to $2.5 million so far.
Oasis500’s partial exit comes as part of its mission to invest in start-up companies in their seed stages in return for equity. It accelerates startups, connecting them with investors and mentors to help them grow. The company’s seed investments to date exceed $8 million in more than 150 startups with more than 2,500 trained entrepreneurs.
“Our objective as an early stage investor in startups is to sell shares in these companies after reaching a certain level of growth that usually takes a seven-year period,” said Luma Fawaz, CEO of Oasis500. “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 was one of the earliest investments Oasis500 made in 2011, The company was founded in 2004 by Rama Kayyali and Lamia Tabbaa. In 2016, they were joined by Salwa Katkhuda and re-launched. Today it has offices in Jordan, the U.A.E. and Saudi Arabia.
The startup creates educational products and resources for school-aged children, with the aim of improving learning outcomes, advancing skills and increasing social and cultural connectedness. Its products are used in over 200 public and private schools across MENA, as well in select school systems in Australia, Canada and North America, reaching over 100,000 students globally.
“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,” said Rama Kayyali, Co-founder.