K-12 Dealmaking: Promethean Acquires Digital Whiteboard Platform; Jeel Raises $1.1M Seed

Staff Writer
K-12 Dealmaking, EdWeek Market Brief

Promethean has acquired the assets of Explain Everything, the companies announced this week. 

Explain Everything is a digital whiteboard platform for creating lessons, activities, and interactive presentations, downloaded and used worldwide. 

With this acquisition, interactive display company Promethean will merge the existing Explain Everything team and platform into its standing operations and portfolio. 

Plans include working to provide rapid technology innovation to create new solutions that address teaching, learning, and collaboration needs, company officials said in a statement. 

“Joining the Explain Everything team with ours is part of our commitment to continuously innovate and work towards providing a superior interactive experience from anywhere,” said Vin Riera, CEO at Promethean. “This exciting opportunity and new relationship for both companies will allow us to expand our already robust offerings to better serve customers’ needs.” 

Saudi ed-tech startup raises $1.1 million. Jeel, a startup based in Saudi Arabia, has raised a $1.1 million seed round. 

The investment comes from EdVentures, the VC arm of Egypt-based Nahdet Misr Publishing Group. 

Jeel, founded in 2020 by Ahmed Sobaih, is a platform that provides preschoolers with educational content prepared by psychologists and educators. 

EdVentures was launched in 2017 and offers incubation, acceleration, and investment programs for education startups. 

“Moving forward, EdVentures is seeking more investments in ed-tech startups, while expanding globally,” said Dalia Ibrahim, Nahdet Misr Publishing House CEO and founder of EdVentures.  

India-based startup raises $100K in seed funding. Ed-tech startup Classlogic raised $100K in seed funding, led by Mumbai Based Angel Investors. 

The latest round of funding will be used to scale technology and enable the onboarding of more than 1,000 institutes in multiple cities across India. 

Classlogic is an integrated platform that has the combined functionality of classroom management systems, learning management systems, enterprise resource planning, and more. 

The company was founded in 2021 by Anoop Mishra and Vineith Kaul. Since then, it says it has partnered with more than 100 education institutes in India. 

“Nowadays, building technology is not a big deal,” said Vineith Kaul, co-founder of Classlogic. “But building it as a low cost and offering it to users at the most optimal cost is the challenge that we have cracked.” 

Female Invest acquires trading platform. Danish financial ed-tech company Female Invest has acquired trading platform Gaia Investments. 

With the acquisition, Female Invest aims to integrate trading functionality within its app, a feature that the company has seen increasing demand for among its users across 89 countries. 

Terms of the deal were not disclosed. 

Female Invest was founded in 2019 by Anna-Sophie Hartvigsen, Emma Due Bitz, and Camilla Falkenberg. The subscription-based ed tech aims to close the financial gender gap and engage more women in the world of investing through educational content. 

Gaia Investments, based in Denmark, is a trading platform with a focus on sustainable and ethical investing, which leaders from Female Invest say aligns with their vision for the future of the company. 

The acquisition “will bring down development time significantly and allow us to launch when the timing is right,” according to Female Invest officials. 

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