JCIF, in partnership with Rua Growth Fund based in Riyadh, Saudi Arabia, has acquired a significant minority stake in Jo Academy with a total investment of USD 28 million. Additionally, the Jordan-based Foursan Group has completed a significant follow-on investment in the company. This investment will support technology and content development, drive Jo Academy’s expansion into Saudi Arabia, and facilitate the launch of its AI-powered EdTech platform, while maintaining Jordan as its central tech hub.
Significance of Transaction:
Committed to establishing Jordan as a central tech hub, Jo Academy aims to strengthen its position in the EdTech market while generating over 100 highly skilled job opportunities, driving socioeconomic development in Jordan and the wider region. The funding will be directed toward technology and content development, supporting Jo Academy’s expansion into Saudi Arabia and the launch of its AI-powered EdTech platform. The company is set to integrate cutting-edge features such as AI Adaptive Learning, augmented and virtual reality (AR/VR), and the creation of virtual schools to cater to the diverse needs of educational systems across the region.
