Aware of the fact that the global lockdown has altered the continued physical operations of most schools, Morocco’s B2B edtech startup KoolSkools has raised over $416,000 (MAD 4 million) to enable it move schools in Morocco and elsewhere online. 

Here Is What You Need To Know

• The funding came from MITC Capital’s Maroc Numeric Fund II, with participation from an angel investor.
• About $310,000 (MAD 3 million) of the capital came from Maroc Numeric Fund II and the rest from the undisclosed angel investor.
• This is the second investment by Maroc Numeric Fund II in less than a week. The fund had announced their $400,000-investment in Moroccan fintech OnePay on Wednesday.
• The funds raised will be fully invested in Morocco. They will enable the company to acquire technical, marketing and commercial resources to serve a large network of schools and students.

Read also: Moroccan Fintech Startup OnePay Raises $409k From Maroc Numeric Fund II

Why The Investor Invested

Maroc Numeric Fund is since 2010, the reference investment fund in technology startups in Morocco. The expertise accumulated by its management team has led to the emergence of several Moroccan success stories. More than a simple financial leverage, Maroc Numeric Fund is a real accelerator for high-potential start-ups. It acts as an active shareholder by providing its portfolio companies, in addition to investment, with advisory and support for their managers, while holding a seat on their boards.

This is the 2nd investment of the new fund Maroc Numeric Fund II and the 19th investment of its management team, taking into account the investments made by the fund Maroc Numeric Fund I, which is now in a divestment phase.

“The fund management team is proud to support Kool Skools project, which is intended to be a complete technological platform for schools, and whose positioning has been fully confirmed during the Covid-19 crisis,” Dounia Boumehdi, Managing Director of MITC Capital, the management company of Maroc Numeric Fund II, declares. 

A Look At What The Startup Does

Founded in 2020 by Nouredine Amrani, who also doubles as the director general of Almamed, an independent investment company based in Casablanca Morocco, 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 more than 30 major schools corresponding to nearly 20,000 students and more than 700 teachers across the various cities of Morocco (Ouarzazate, Agadir, Marrakech, El Jadida, Casablanca, Rabat, Fez, Meknes …).

As part of its long term plan, Koolskools aims to cover all regions of Morocco and accompany the digitalization of the largest number of schools and reach at least 100,000 students in two to three years.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer