I'm on a poor Internet connection and can't read the page but a search indicates that GiveWell is aware of Noora:

https://www.givewell.org/research/incubation-grants/charity-...

It would be interesting to read about how it compares to GiveWell's recommended charities.

One thing when considering effective giving is that cost-effectiveness does not scale linearly with the investment - this figure may well be accurate for the investments they've received, but that doesn't mean that additional investments will be effective to the same degree.

For example, in this case, educating mothers about how to take care of their babies will be very effective until most of the population is educated - from that point on, there may only need to be ongoing low investment to keep that level of education.

In general, effective giving would try to keep highly-effective charities well-funded, but not have them store excess investments - if not all of the donations can be "activated", the charity becomes less effective per dollar.