Nigeria focused learning platform raises £2.6m in pre-seed round

A London based Africa-focused online learning platform, has raised $3.5m (£2.6m) in a pre-seed round led by Berlin-based Target Global with strategic participation from angel investors.

Launched in December 2021, Edukoya is operating in beta with a focus on Nigeria. The funds will enable the transition from beta to live launch in 2022, as well as expansion of the team, the learner base and the building out the technology for Edukoya’s learning platform, including support for its Pan African and European developer hubs.

Headquartered in London, Edukoya aims to help learners and their parents to take control of their learning and make it easier for them to access high quality learning material and expert help.

The platform has a range of valuable features targeted at secondary school learners including; 24/7 Exam Preparation & Homework tutor help, a data driven question bank with step by step solutions and personalised performance tracking systems.

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’’.

The angel investors included European and African founders such as Shola Akinlade - CEO and co-founder of Paystack, Babs Ogundeyi and Musty Mustapha - founders of Kuda, Brandon Krieg and Ed Robinson - founders of Fintech Stash and Raffael Johnen - CEO of Aux Money.