EdTech startup Lumofy secures $500,000 in seed funding round

Lumofy, a competency-based edtech platform, was founded in 2020 to assist enterprises in mapping proficiency, assessing abilities, accelerating personal growth, and aligning learning and development with the organization's strategic aims. Lumofy is a data-driven digital learning platform with a proprietary methodology and scientifically validated approach that is relevant in today's workplace.

"Lumofy employs proprietary technology to address a problem that many large organizations face: providing staff with individualized training. Lumofy's team has been able to tackle a long-standing issue and has demonstrated the platforms' success through an amazing client list. We believe that by co-investing in Lumofy alongside the private sector, we will be able to mutually support the business's acceleration," Hope Ventures General Manager Fajer Alpachachi said about the fund's first growth investment.

Lumofy has announced the closing of a $500,000 in seed funding round. Several investors lead the round, including Hope Fund, JEO Capital Management, and Yaser Alghamdi and Abdulrahman Al Jiffry, two angel investors.

"With this funding, we will be able to make significant contributions to the modern technology and EdTech industries." It will enable us to considerably reinforce our growth in the future year, allowing us to extend the business regionally and globally while ensuring long-term growth," said Ahmed Faraj, the company's founder and CEO.

Lumofy's team has grown across the region by collaborating with prominent public and private institutions. Lumofy was also named in HolonIQ's annual list of the Middle East and North Africa's 50 most promising EdTech Startups in the Digital Training field. It was also named one of the Top 10 international scale-up startups by GITEX. Lumofy has always placed a strong emphasis on youth competencies in order to support the EdTech industry's long-term ambition in Bahrain and beyond.