Egyptian Transport App Schoolz Raises Six-Figure Fund Ahead of Launch
The new funding will go towards officially launching Schoolz following its trial period, as well as introducing its cloud and technology infrastructure services to the Saudi and Egyptian markets.
Cairo-based transportation platform, Schoolz, has closed an undisclosed six-figure funding round led by Egyptian and Saudi Arabian investors. The new funds will go towards officially launching Schoolz following its trial operations, as well as introducing its cloud services to the Saudi and Egyptian markets.
Schoolz facilitates reliable and comfortable transportation for children through tech, with an app that features a variety of safety measures including employing professional drivers, having supervisors in each vehicle, live cameras for remote monitoring, and notifications informing users when students leave the house or school.
Co-founder and CEO Hosni Ahmed said there was a “great opportunity” to tap into the market of transportation services for children and students, within and beyond Egypt.
“We started it experimentally at the peak of the Corona pandemic to test the minimum market acceptance of our services, and the results were impressive,” he explains, saying that “in the first week of the launch, we transported the first group of students to their schools, then we transported children to the club during the weekend.”
After this, schools, sports academies, and clubs requested the company’s services, so it responded by providing technology, tools, and transport tech that either belonged to or was managed by the Schoolz system.
Currently, Cairo and Giza alone have two million students in private and international schools - Schoolz’s current target market - who collectively spend over EGP 16 billion annually on transportation.
Laying out a future vision, Ahmed explained that “Schoolz also aims to use those investments to pump funds in business growth of students’ transportation to schools besides launching Schoolz for Business, and this service aims to transport employees to their work within Cairo and Giza governorates.”
The company also plans to launch Schoolz Saas (software as a service) to allow schools and companies to use its technology infrastructure without its direct fleet.
