Nigerian ed-tech startup, Edves has announced that it has secured seed funding of $575,000 as part of its plans to improve its products and bring more schools online.
Beta Venture led the funding round, which was oversubscribed. Other participating investors include Launch Africa, Chinook Capital (follow on), and Future Africa.
According to the announcement, this new funding round will allow it to improve its products by enabling the release of new offerings to address fresh consumer needs in the Nigerian market and major segments in other African markets.
Founded by Dimeji Falana and Dare Adebayo, Edves is a cloud-based school management software platform. It provides an integrated suite of services, allowing schools to manage report cards, fees payment, digital learning, student enrollment and much more.
The platform also allows parents to view certain details about their children/wards as well as pay fees on the platform. Considering that not all parents are tech-savvy, these details can be accessed via text, email, an app or the web platform itself.
As part of its digital infrastructure efforts, the company also enables interaction between teachers, parents and administrators to deliver education and means of collaborating on learners’ progress on learning goals, track and analyze learning outcomes.
The startup announced a seed round investment of $120,000 in 2018 from Chinook Capital and CcHub’s Growth Capital. The company automates learning in Nigeria, Ghana, and Zimbabwe and boasts of over 790 schools have used the software.
Speaking of the funding, Ovo Emorhokpor, a general partner at Beta Ventures, stated that his company’s mission is to assist entrepreneurs and exceptional African companies that add real value to Nigeria and other African communities. He said:
“We have witnessed Edves firsthand and seen how they deliver on their promise to digitize the learning process in and out of the classroom in Africa. We are thrilled to be part of their journey as they scale their offerings and expand into new markets.”
Zachariah George, the managing partner at Launch Africa Ventures, also agrees that the investment was important to encourage digital teaching and learning among the nearly 60% of Africa’s population who are under the age of 25.
“Schools all over the continent need easy-to-use, secure learner management software that encompasses all school needs by addressing specific challenges with capturing data, paperwork, and improving every area of school operations”, he concludes.
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