IoT-Kids, Iraq-based children’s online learning platform for programming, announced that it has secured five-figure investment from the leading ISP provider in Iraq; Earthlink Telecommunications through the Iraqi Angel Investors Network via IAIN member Dr Ala’a Jasim.
The funding also included a matching $20,000 grant from the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH via its project “ICT for Youth in Iraq” as part of the organization's support to the Angel Network.
The latest investment does not only provide the company with the growth capital needed to support its tech platform and further ground its position in the market but more importantly provides educational depth and network potential for the platform.
Founded in 2015 by Mohammad Khaled and Ali Taher, IoT-Kids is a provider of programming courses for schools across the country. The platform offers online courses for 5-15 year olds in game design, robotics, programming, electronics and artificial intelligence. The startup has the largest community in Iraq for children, and it currently operates in 9 different cities across the country.
The company's goal is to eliminate children's addiction to smartphones and encourage children to use technology in the right way in order to innovate and invent at an early age. It's vision is to empower the new generation to implement creative thinking skills and develop the necessary capabilities for research, production and communication.
Speaking about the latest fundraise, Co-founder and COO of IoT-Kids, Ali Taher, said,
"We are very excited to have Earthlink as part of our journey, the funding will help us expand our online platform, marketing efforts and in due course expand outside of Iraq to other countries in the region."
IoT-Kids has launched its online platform in 2019 to provide its users with digital versions of its courses. The company boasts a digital community of more than 200,000 users and has had more than 10,000 students complete its courses.
Deputy CEO of Earthlink Telecommunications, Dr Ala’a Jasim, added:
"Earthlink's commitment to building strong internet infrastructure in Iraq derives from its vision to be the technology driver of Iraq’s future, and we already come a long way evolving from an internet service provider to an internet economy enabler. Our investment into IoT Kids echoes our strategy and we see a great potential in IoT Kids vision to raise a new tech enabled-generation."
The startup has won multiple local and international competitions including that of the Falling Walls Foundation in Germany, the World Summit Awards, and first place awards as an Iraqi startup for Seedstars in 2019. IoT Kids has recently graduated from the Takween Accelerator Program; a Yanhad project implemented by the American University of Sulaymaniyah.
Commenting on the investment, CEO of Kapita, Mujahid Waisi, said,
"We are very happy to see locally established businesses play an increasing role in supporting the private sector through actively investing into the local Iraqi ecosystem."
Ali Al Suhail, Network Manager for the Iraqi Angel Investors Network concluded,
"IAIN key mission is to enable investments into Iraqi businesses, our members engaging in corporate ventures is a positive indicator of established businesses and startups working together to enable disruption."
IoT-Kids equips children with the knowledge and skills needed throughout their lives to solve the problems of the twenty-first century and beyond.