ScholarX , a technology startup focused on education in Nigeria has generated US$100,000 in its first round of shopping for investors. The ed-tech startup raised the sum as part of the US$200,000 needed for it to launch new products and grow its team.
ScholarX launched in 2016 to make quality education accessible to all Nigerian youth. The ScholarX app enables students to find scholarship opportunities tailored to their needs and timing by scrolling through the parameters of the app and selecting what applies to them.
In 2017, the ed-tech startup also launched a new product which it called village. Village is targetted at students in tertiary institutions or secondary schools to create fundraising campaigns that can then be backed by sponsors in order to meet their educational needs.
In a bid to improve its services and grow as a team, ScholarX has been part of major accelerator programs such as the global wise accelerator and a Cape Town based accelerator named Injini. Recently in March, Google also announced that the ed-tech startup had been chosen as a member of the third cohort of the Google Launchpad Africa accelerator.
Securing this pre-seed capital is part of efforts to launch the pilot of their new product model by July. The new product model called Skillsfund will provide training for fresh graduates in skills that are in high demand. It will also help to place them with employers that need their skill set.
ScholarX is partnering with other bodies like N-power and Lagos Innovates to bring this product to reality. Beyond funding, the ed-tech startup also seeks connections from its investors that will enable it identify specific partnerships that helps them provide better services to users of their products.
According to the CEO, Mr Bola Lawal, ScholarX staff will also be beneficiaries. The raised fund will also be used to develop the tech and operational staff of the startup.