Casablanca-based edtech KoolSkools has raised over ~$416,000 (MAD 4 million) from MITC Capital’s Maroc Numeric Fund II and an angel investor, the Moroccan startup announced in a statement to MENAbytes. About $310,000 (MAD 3 million) of the capital came from Maroc Numeric Fund II and the rest from the undisclosed angel investor.
It is the second investment by Maroc Numeric Fund II in less than a week. They had announced their $400,000-investment in Moroccan fintech OnePay on Wednesday.
Founded earlier this year, KoolSkools is an online learning platform that enables schools to digitalize their courses and exercises, create a content bank, and deliver live courses. The platform also enables schools to manage their operations including student records, attendance, report cards, communication with parents, and payments.
The startup claims to have 30 schools with close to 20,000 students and over 700 teachers using its platform in different cities of Morocco including Casablanca, Rabat, Marrakech, Fez, & Agadir. KoolSkools aims to cover the entire country and help schools all over Morocco go digital. It wants to reach at least 100,000 students in 2-3 years.
The statement explained that KoolSkool will invest the entire capital in Morocco – primarily to acquire tech, marketing, and commercial talent for serving a large network of schools and students.
Dounia Boumehdi, Managing Director of MITC Capital, explaining that Covid-19 has reinforced how important edtech platforms will be for education, said, “We are proud to support KoolSkools in its mission to become a complete tech platform for schools.”