ⓘ Featured image: Eman Hylooz, Founder of Abjjad; Credits: Cartier Women’s Initiative
Amman, Jordan-based Abjjad, a digital library that provides unlimited access to thousands of Arabic books and novels, on Tuesday, announced that it has raised $1 million in its Series A funding round from Rimal Capital, JordInvest and ISSF.
The platform says that it houses over 6,000 Arabic eBooks and novels for the users to read, rate, and connect with the writers. The platform claims that at present it has around 1.5 million registered users.
Founded in 2012 by Eman Hylooz, Ajjbad is an Oasis 500 backed company that specializes in helping lost readers get convenient and affordable access to books, unrecognized authors to reach publicity, and publishers who are under the risk of extinction to become scalable and up to date with the new technology trends.
The company works with the leading Arab publishing houses and writers to digitize their books and enable them to be published on the platform, driving new revenue streams and increasing their readers’ base. Abjjad believes that digital publishing for Arabic books is lagging behind the rest of the world, and it has become their mission to solve this, alongside switching the Arabic world from piracy and PDFs to copyrighted versions with good user experience.
Speaking of the development, Eman Hylooz, Founder & CEO of Abjjad, in a statement said,
“We at Abjjad, consider ourselves lucky to have onboard strategic investors that will take the company to the next level, we are very excited about the next stage and we already are witnessing at the very moment the growth within our team, our users, our publishers, and our beloved writers.”
Laith Al Qasem, CEO of ISSF said,
“ISSF is excited about investing in Abjjad, an innovative provider of much-needed Arabic digital content. At ISSF, we are always delighted to help innovative and scalable startups, particularly those managed by women and youth, achieve their full potential.”
Obaida Rawashdeh, CEO of Rimal Capital added,
“Although we live a busy life, many still want to read and because this need is fulfilled by Abjjad in a unique model, you find Abjjad to be one of the few businesses that started working even before being extensively worked on.”
Ahmed Tantash, CEO at JordInvest commented,
“As a regional investment house, Jordinvest is shifting its strategy towards investing in the new economy, whereby Abjjad correlates best with this vision in terms of technology, market reach and content.”
The is planning to utilise the fresh funds to onboard new users, add more eBooks and improve the technological infrastructure for Abjjad.