Edukoya, a Nigerian online learning platform, has raised US$3.5 million in a pre-seed round led by Target Global, which it will utilize to move from beta to live launch and expand its workforce and customer base.
Edukoya, which went live in beta earlier this month, connects African students to digital curriculum content and on-demand teachers for real-time online learning. To deliver personalised learning across grades, the platform combines a data-enabled question bank, world-class teachers, innovative technology, and data science.
The startup was the second most downloaded education app in Nigeria during its first week, and it is now looking to expand after securing US$3.5 million in pre-seed funding. Target Global is leading the round, which also includes strategic participation from angel investors such as Paystack’s Shola Akinlade, Kuda’s Babs Ogundeyi and Musty Mustapha, Fintech Stash’s Brandon Krieg and Ed Robinson, and Aux Money’s Raffael Johnen, among others.
The funding will help Edukoya move from beta to live in 2022, as well as expand its team, boost its user base, and develop the technology behind its learning platform, including support for its Pan African and European developer hubs.
Speaking about the new funding, Honey Ogundeyi, Founder and CEO of Edukayo said: “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 260M students and counting.Our goal is to democratize access and make high quality instruction and content accessible and affordable to every student, regardless of where he or she lives on the continent”
Lina Chong, Investment Director at Target Global, said, `We are delighted to lead this investment and partner with Honey and her impressive team of education technology pioneers.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”.