Baims acquires Egypt’s Orcas to tap $100bn MENA education market
Kuwait-based edtech firm Baims has acquired the Egyptian live learning platform, Orcas Tutoring, in a strategic move to tap into the education market in the MENA region reportedly valued at $100 billion. The acquisition aims to redefine the EdTech landscape in the region and broaden the scope of educational offerings.
Yousef Al Husaini, CEO of Baims, emphasized the significance of this acquisition, stating, "By acquiring Orcas Tutoring, we are not just expanding our reach; we are redefining the EdTech landscape in MENA." Al Husaini highlighted the consolidation's potential to provide a comprehensive learning experience by combining Baims' online tailored recorded courses with Orcas Tutoring's personalized one-to-one tutoring platform.
Hossam Taher, CEO of Orcas Tutoring, shared the goal of establishing product and market synergies. He expressed plans to introduce personalized K12 tutoring services in the GCC (Gulf Cooperation Council) and subsequently expand the portfolio to address the diverse needs of university students.
Points clés à retenir
The acquisition is in line with Baims' strategic vision to enhance its offerings by seamlessly integrating Orcas' tutoring services into its platform. Broadly, it is poised to create a comprehensive and flexible educational experience for students throughout the MENA region. In Egypt alone, the rapidly expanding ed-tech industry is expected to hit a market value of $1 billion by 2025. This surge is primarily propelled by the escalating demand for online education, particularly among the youth demographic. The trend also reflects a significant shift in learning preferences and underscores the increasing reliance on digital platforms for educational purposes in Egypt. Orcas and Baims have raised over $11 million, supported by key investors that see the potential such as Access Bridge Ventures, Algebra Ventures, NFX Ventures, AlWazzan Educational Group, Rasameel Investment Company, Seedstars International Ventures, and AK Holding.
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