Sprints raises $3m bridge round to scale AI-powered ed-tech platform

BREAKING NEWSMarch 28, 2024 at 5:38 PM UTC

TLDR

Egyptian AI-focused edtech startup Sprints secures $3 million bridge fundraising round led by Disruptech Ventures to expand into 10 new markets.
Sprints, established in 2020, provides talent assessment, customized learning journeys, and job placements, with a team of over 100 employees and collaborations with 300 trainers from 12 countries.
The fundraising will fuel Sprints' scale and growth trajectory, boosting its capabilities in the edtech sector.

Sprints.ai, an Egyptian AI-focused edtech startup, also known as Sprints, has closed a $3 million bridge fundraising round, led by Disruptech Ventures, with additional participation from EdVentures, CFYE, and other investors.

The secured funds will empower Sprints to realize its expansion objectives by venturing into ten new markets. Furthermore, the capital infusion will be instrumental in fueling the company's scale and growth trajectory.

Established in 2020, Sprints offers a range of services, including talent assessment, customized learning journeys, and job placements. It also boasts a team of over 100 employees and collaborates with 300 trainers from 12 countries.

Key Takeaways

Venture capital investors are increasingly backing education-focused technology startups in Africa, as they move to capitalize on an obvious market and economic opportunity while driving tangible educational impact in the fast-growing region. The past few years have seen a rise in the adoption of edtech innovation in Africa. Available projections indicate that the market will grow into a multibillion-dollar industry, driven by increasing demand for online learning solutions, e-books, and educational apps. However, significant challenges remain for players in the space, such as access to funding and route-to-market which VC firms can help address.

Edtech

Sprints AI

EdVentures

CFYE

Venture Capital

MENA

Egypt

Startups