• Iraq-based edtech Eduba was acquired by an undisclosed telecommunications conglomerate for a seven-figure amount.
• Founded in Baghdad in 2019 by Azad Hassan, Haider Shaaban, and Raed Kadhem, Eduba was initially launched as a school management app; it gained significant adoption by private schools and was one of the few to receive accreditation from the Ministry of Education, indicating the startup's strong performance.

Source: Tajarib

Tajarib announced this week the acquisition of Eduba, the edtech startup, by a major telecommunications conglomerate for an undisclosed seven-figure amount.

The announcement took place in a Tajarib episode broadcasted on the Iraq 24 TV channel and Tajarib’s various platforms on social media.

Eduba, founded in Baghdad in 2019 by Azad Hassan, Haider Shaaban, and Raed Kadhem, initially launched as a school management app; it gained significant adoption by private schools and was one of the few to receive accreditation from the Ministry of Education, indicating the startup's strong performance.

Hassan and his team had started planning a major transformation to serve all education stakeholders, from kindergarten to K-12. While dedicated dashboards for teachers, students, and guardians were already in place, Eduba’s team aimed to expand the platform into a comprehensive super app. This evolution would add a full-fledged learning management system, communication tools, fintech solutions, and ride-hailing services, creating a centralised solution to address the full spectrum of each stakeholder’s needs.

Eduba’s team initially sought to achieve their goals by raising capital through equity funding with investors, only to hit a brick wall. “Most capital is not interested in equity investment or partaking in fundraising; they aim to take complete control of the business," Azad commented. "Entrepreneurs are left with few options, often conceding significant value."

This sentiment is indeed echoed across Iraq’s entrepreneurial landscape. Many Iraqi founders face similar challenges as they strive to raise capital through equity to fuel growth and sustainability, only to encounter investors who seek ownership rather than partnership.

However, Eduba’s investment journey became a model for startups seeking funding. The startup’s team engaged with multiple companies to pitch the startup’s potential, receiving positive responses from two prominent Iraqi tech giants. These interactions set the stage for a bidding process.

The negotiations that followed included talks about product placement, strategic partnerships, market expansion, and integrations with the acquirer's existing portfolio. These discussions ultimately culminated in a seven-figure acquisition deal with a major ISP conglomerate. The expansion of Eduba and the extensive infrastructure of the ISP lead us to believe that great synergies are underway.

The full integration of Eduba’s app and team ensures that the startup’s capabilities are now part of a larger strategy, fostering innovation, scalability, and market growth as the ISP expands its reach across the sector.