The following startups secured investment in the Education-technology (edtech) sector on 5th January 2020:
Indonesian Edtech Zenius secures undisclosed Series B funding
The Indonesia based education technology startup Zenius announced closing a Series B investment round on 5th January 2021. The funding round included participation from the new investors Openspace Ventures and Alpha JWC Ventures and was joined by the existing investors like BeeNext, NorthStar and Kinesys.
They are planning to use the proceeds of new investment for further developing their platform that can meet the increasingly growing consumer demand.
The startup launched new features this year like artificial intelligence powered automatic doubt solving tools which are accessible using their app or whatsapp. They have also launched a free of cost learning management tool for the Teachers which is in use by more than 6,000 teachers of Indonesia.
Solutionpath secures £1 million capital loan support to scale its software platform
Solutionpath, a Leeds based edtech enterprise announced securing a £1 million capital loan on 5th January 2020. The investment includes funding from Merica Debt Fund, NPIF managed by merica, the Northern Powerhouse Investment Fund and Merica’s SME Loan Fund.
The investment support will help the company to help them scale their operation. The platform offered by Solutionpath measures the engagement of students with their learning activities and is described as the ‘fitness app for education’. Solutionpath is a spin-off from the IT reseller which is actively serving the higher education domain, DTP Group. They are a team of 23 people and with the new funding they will invest to adapt their technology for remote tuition and scale their solution to more universities with the creation of 11 new jobs.
Egyptian edtech Akhdar receives six-figure funding
Akhdar, an Egypt based edtech startup announced closing a 6 figure funding round on 5th January 2021. The funding was led by EdVentures which is an Egypt based venture capital that primarily invests in culture innovation, learning and education solutions.
The startup is planning to use the investment for growing the existing content library with the inclusion of new topics and categories. They will also accelerate their gamification model of their startup and enhance the technology they presently use.
Akhdar functions as a book summary application that started as a YouTube channel and later launched as a mobile application platform. Currently the app provides hundred plus video summaries for various printed and audio books in 16 different genres.
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