K-12 Dealmaking: UAE’s Taaleem, Peergrade Gain Additional Investments

Contributing Writer

In this week’s dealmaking news, Amanat Holdings increased its stake in Taaleem Holdings, a provider of K-12 education in the United Arab Emirates, and Copenhagen-based Peergrade raised $1.5 million.

Amanat Holdings Acquires Additional Stake in Taaleem: Amanat Holdings, a Dubai-based investment company focused on healthcare and education, has increased its share in Taaleem Holdings, a provider of primary and secondary education, to 21.7 percent, for a total investment of $14 million, according to a statement.

Dubai-based Taaleem develops and manages early childhood, primary and secondary schools. The group currently operates through ten facilities (seven schools and three nurseries) in the UAE, with current enrollment figures of around 9,000 students. It offers education across multiple curricula, including British, American and International Baccalaureate, as well as a multi-lingual early childhood program.

In April 2016, Amanat acquired a 16.34 percent stake in Taaleem, for approximately $40 million. The new investment represents a 5.3 percent additional stake in Taaleem, making Amanat the largest shareholder.

“Taaleem Holdings was our first investment in the Education sector in the UAE, and we were always keen on increasing our stake in it at the right price as we firmly believed in its model and positioning,” said Hamad Al Shamsi, chairman of Amanat Holdings. “To date, our journey with Taaleem has been in alignment with our vision of creating a smarter society. Taaleem’s like-minded management team also complements our approach to growing the business and the development of the UAE education sector.”

Peergrade Raises $1.5 Million: Peergrade, a Copenhagen-based ed-tech startup, has raised more than $1.5 million in new capital from investors including Y Combinator, byFounders, Project A, Nordic Makers, Learn Capital, Futuristic.VC and angel investors from around the world, according to a blog post on Medium.com.

Peergrade’s online software application is designed to enable teachers to create peer assessment sessions, monitor student performance and create a better learning experience for students, according to the company website.

Last summer, Peergrade was invited to join seed accelerator Y Combinator. In 2016, the company raised $300,000 in seed funding from U.K. ed-tech accelerator Emerge Education and angel investors.

Ward’s Science Collaborates With Discovery Education: Ward’s Science, a manufacturer and distributor of science education materials for K-14 educators, and Discovery Education, a provider of digital content and professional development for K-12 classrooms, have unveiled Discovery Education TechKits by Ward’s Science, a line of activity kits aligned to the embedded activities in Discovery Education’s digital textbook, according to a statement.

Designed to help K-8 teachers across the United States save time and meet Next Generation Science Standards (NGSS), Discovery Education TechKits by Ward’s Science are organized by grade level and topic for simple identification of materials. The TechKits include a full year of activities for Physical, Life and Earth and Space Science units in the Elementary and Middle School Science Techbooks.

Boxlight Partners With ProArch: Boxlight Corporation, a provider of technology solutions for the global learning market, has formed a strategic partnership with digital solutions provider ProArch.

Boxlight will work with ProArch on a number of projects, including an on-demand, one-to-one student tutoring platform and the expansion of educators’ access to a variety of Microsoft products and licensing solutions, according to a statement.

“ProArch’s expertise in technology solutions complements our own, so together we can increase the range of solutions we can offer educators and students,” said Boxlight’s CEO, Mark Elliott.

In 2016, Boxlight acquired Mimio, a developer of interactive teaching technologies that was founded in 1997 by five students at the Massachusetts Institute of Technology.

Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking.

 

 

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