Target Global manages pre-seed round to raise $3.5 million for Edukoya in Nigeria, an ed-tech startup

Nigerian online education platform Edukoya raised US$3.5million in pre-seed funding led by Target Global. This will be used to transition from beta launch to live launch and to build its customer base.

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Edukoya was launched in beta this month. It connects African students to the digital curriculum and on-demand teachers to provide real-time online learning. It combines a data-enabled query bank, top-notch teachers, innovative technology, and data science to provide personalized learning across grades.

Edukoya, which was launched in Nigeria on the 2nd of May, was the most downloaded education app. It has now secured pre-seed funding of US$3.5 million to help it grow. The round is being led by Target Global and includes strategic participation from angel investors, including European and African founders like Paystack’s Shola Akinlade and Kuda’s Babs Oludeyi and Musty Mustapha as well as Fintech Stash’s Brandon Krieg, Ed Robinson and Aux Money’s RaffaelJohnen.

This funding will allow Edukoya to transition from beta launch to live launch in 2022. It will also enable the expansion of its team and the growth of its user base.

“Our vision at Edukoya aims to revolutionize online education for the next generation Africans. Africa is home to the largest number of school-age students in the world, at over 260 million. Edukayo founder Honey Ogundeyi stated that the company’s goal is to make access more accessible and to make high-quality content and instruction affordable for all students, no matter where they live.

Lina Chong (investment director at Target Global) said that she was thrilled to be a partner in the investment with Ogundeyi, her team, and to have Lina as her investment director.

Target Global’s team and I were immediately impressed by Edukoya’s mission to improve the quality of education for millions of African students. This, along with their ability to achieve it, made a lasting impression. She said that their business had the potential to unlock learner potential, and improve lives across generations.”

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