Having actually announced its US$ 16 million seed round in February this year, this newest investment brings the total amount of funds protected by Uptime to $19 million.
HB Investments, the Dubai-based personal financial investment office of the founders of globally prominent charm brand, Huda Charm, has actually introduced its participation in a US$ 3 million extension to the seed funding round elevated by Uptime, an edtech application that supplies customers with five-minute “understanding hacks” distilled from popular books, courses, and docudramas around the world.
Having actually introduced its $16 million seed round in February this year, this latest investment brings the total amount of funds safeguarded by Uptime to $19 million, with its new backers including Huda Kattan (creator of Huda Appeal and also Chairwoman of HB Investments), Chad Hurley (founder of YouTube as well as co-investor in Leeds United Football Club), as well as others.
In a statement revealing HB Investments’ support of Uptime, Kattan claimed, “Equalizing access to education is something I care deeply about, and so does the team at Uptime. I’m excited to be joining them on this journey as an investor and also board participant to develop a truly worldwide edtech platform.”
Released in 2020 by Jamie True, Jack Bekhor, as well as Patrick Walker, Uptime uses machine learning and also human curation to currently provide more than 1,500 items of web content to its customers. With the app declaring to have users seeing it 1.5 times a day, sessions on Uptime have actually been claimed to compete 8 mins on average, making it 2nd just to Tik Tok in terms of user engagement and also communication.
Such numbers are an indication as to why HB Investments chose to buy the app. “Uptime has a durable business group, as well as an extraordinary roster of early financiers,” stated HB Investments CEO Karan Wats, in a meeting with Entrepreneur Middle East. “It gets on track to have the expertise hacking room.”
Karan Wats, CEO, HB Investments.
Besides Uptime, HB Investments has actually made investments in startups like Club, Fresha, as well as others. When asked for what associates the company searches for when making decisions on funding startups, Wats replied, “Our company believe the very best organizations are constructed by the finest groups. We try to find entrepreneurs that think huge, are not scared to rock the boat, as well as inspire their groups to execute on the business’s mission.”
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Resources: entrepreneur
Last Updated: 14 October 2022
