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UAE-based Qureos closes $3M as more edtech ventures attract massive funding

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UAE-based edtech and remote work marketplace, Qureos, has closed a $3M pre-seed round.

The round, according to details of the deal, was co-led by Dubai-based COTU Ventures and New York-based Colle Capital.

Founded August 2021 by Alexander Epure, Mehrad Yaghmai and Usama Nini, the remote learning and work platform claims to be on a mission to change how people upskill and get jobs across the globe.

According to Qureos, its user-base comes from a pool of 133 countries, with about 32% of the bulk from Africa.

The edtech sector has continued to attract investments, following behind the lead of the fintech sector, which accounts for a major percentage of equity investments raised by tech ventures globally.

According to data obtained from Crunchbase VC-backed companies in the education space raised more than $20B in 2021, up from around $14.6B in 2020.

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Days ago, Denmark’s Labster, a leading platform for virtual labs and interactive science, secured $47M in additional funding to support its growth worldwide.

Similarly, Sales Impact Academy (SIA), a London-based go-to-market learning platform, recently nabbed a $22M funding to accelerate the growth and development of its learning solutions.

Investments in the sector, however, have not been limited to fund raisers.

Acquisition and expansion developments have also been a common feature, especially with larger intentional companies bidding to take up stakes in local startups with significant track records.

Earlier in April, StuDocu, an Amsterdam-based student-to-student knowledge exchange platform where students can share knowledge, college notes, and study guides, announced its acquisition of Studybees, an online tool for school leaders, teachers and students.

In Nigeria, the sentiment is not different as more edtech ventures have been recorded to launch within the last 36 months.

While Sim Shagaya’s uLesson remains a major player in the sector, other Nigerian edtech startups include gidimo, Teasas, Edukoya, AltSchool Africa, Utiva, Splatt, and Edves.

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