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iStoria raises big funds for upgrades, expansion: Homegrown English teaching edtech platform iStoria secured USD 1.3 mn (SAR 5 mn) in a seed fundinground, it said in a statement yesterday. The round was led by local and regional investors, including our friends at Flat6Labs as well as Nama Ventures, Classera, and BIM ventures. Angel investors also participated in the round.
Where the funds are going: iStoria will use the capital injection to enhance its mobile application (App Store, Google Play), drive product innovation, and expand its reach to users globally, according to the statement.
iStoria is smart: Their pitch was one of the highlights of Flat6’s second Riyadh demo day last Monday.
About the app: Founded in 2020, iStoria has a partnership with Oxford to teach English through graded-reader stories modified for all levels rather than traditional ways. This approach allows learners to master vocabulary easier, according to iStoria. It has reached 1 mn users, it said last month.
iStoria is no stranger to Nama Ventures, which led a pre-seed funding round in 2022 that saw the edtech platform raising an undisclosed amount.
What they said: “Through this funding, we will continue our mission to empower individuals to communicate effectively and boost their confidence in using the English language. We are optimistic and eagerly anticipate the next phase of our journey. Our growth and impact will primarily come from serving organizations and expanding our global presence,” iStoria’s Founder and CEO Abdullah Al Jabri said.
