Nigerian edutech, Edukoya has raised $3,500,000 in a pre-seed funding round.
Target Global led the seed round.
Also participating in the fund are angel investors like Shola Akinlade of Paystack, Babs Ogundeyi of Kuda.
Others are Musty Mustapha, Brandon Krieg of Fintech Stash, Ed Robinson and Aux Money’s Raffael Johnen
Edukoya:
Meanwhile, Edukoya is an online learning platform that founded in May 2021.
It is a learning company that runs 24 hours, everyday.
It helps students with practical tests for JAMB, WAEC and school exams.
The platform helps students solve questions in many subjects including English and Mathematics.
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It has over 20,000 questions with answer sheets for students.
Information on its portal says “you can call when you need help with studying.
“Tutors can explain concepts and homework, give instant feedback and prepare for tests and exams.
“The answer is just one-click away. Ask edukoya.”
The platform helps students learn better by proving smart solutions to education tasks.
According to the platform, “With Edukoya’s detailed solutions you get more than just answers.
“Get FREE access to step-by-step how to solve tough problems on past examination papers now.”
Edukoya provides video lessons and interactive classes by linking students with teachers.
It said 96% of students who used its platforms scored higher grades in Maths and other hard subjects.
This is against those or when the students had not begun using the platform.
According to Honey Ogundeyi, founder and CEO of Edukayo, the vision is to redefine education for the next generation.
“Our vision at Edukoya is to redefine online education for the next generation of Africans.
“Africa has the fastest-growing school-age population globally, with over 260 million students and counting.
“Our goal is to democratise access and make high-quality instruction and content accessible and affordable to every student, regardless of where he or she lives on the continent.”
Why the fund?
Edukoya raised $3,500,000 fund to link African students with the digital curriculum content.
It also wants to connect them to on-demand teachers for real-time online learning.
The startup said the fund will help it transition from beta which it launched in December to live launch.
Also, it will leverage the seed round to build and grow its customer base.
The company plans on going public in 2022, its founder, Honey Ogundeyi has said.
According to him, Edukoya will connect African students with the digital curriculum content and on-demand teachers for real-time online learning.
Speaking on the fund raising, Lina Chong, investment director at Target Global said thus:
“Edukoya’s mission to provide better quality to millions of African students, combined with the team’s ability to execute on this ambition, left an immediate impression on myself and the whole team at Target Global.
“Their business has the potential to unlock learner potential and improve lives across generations.”
Implication:
With the seed round, the company will no longer be in Beta.
Also, it will better position to help students in their education.
As boasted by the platform, it helps students do well in their academics, thereby helping them make better grades.
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