FoondaMate, a South African edTech startup, has secured $2 million in a seed funding round led by LocalGlobe, a UK-based venture capital firm, to expand its Whatsapp and Facebook-based learning chatbot globally.
Other investors included Emerge Education, Odunayo Eweniyi via FirstCheckAfrica, Iyin Aboyeji of Future Africa, and LoftyInc, as well as angel investors Marcus Swanepoel of Luno and Isaac Oates of Justworks.
The firm is focusing on localizing its learning resources in order to accommodate learners in new countries and expand its platform to over 50 million people. Its current funding round provides the necessary resources for this speedy growth.
Foondamate assists students in their review by providing immediate answers to questions, as well as the availability of review papers and instruction on how to respond to questions.
According to co-founder Dacod Magagula, the company is targeting college students in developing countries where Whatsapp is widely used and is less expensive or free to use.
He believes that the company’s learning chatbot is simple to use, low-cost, and offers a structured alternative to studying using search engines.
Educators can assign and submit homework as well as share other educational materials with students using FoondaMate’s integrated features.
According to LocalGlobe partner Ziv Reichert, FoondaMate’s viral growth indicates how well the product connects with learners and speaks volumes about Dacod and Tao’s profound understanding of their users’ demands.
He went on to say that, after starting out with a vision to change the way African students learn, FoondaMate has grown into a tool that is today used and appreciated by students from all over the globe, with a variety of needs and learning styles.
The investors believe it requires a lot of empathy for the issue and a long-term view to build a product like this.
As a result of technological advancements, the way students learn is changing. Students of all ages are used to swiping a tablet and looking up answers on the internet. Education has been revolutionized by technological advancements that have made it more accessible.
First and foremost, EdTech solutions must make education engaging, entertaining, and most crucially, understandable for students.
This is how technology can help you get there. Students no longer have to fail because platforms like FoondaMate can help them find solutions to their problems.
Additionally, edtech like FoondaMate offers students with detailed, personalized feedback. It also assists students by guiding them through the lesson and maintaining their attention on WhatsApp, their preferred chatting program. Thanks to edtech like FoondaMate, students can receive learning tools at a minimal cost, or even for free.