CoLearn Announces 143 Billion Rupiah Series A Funding, Heating up Local Edtech Competition
Currently has 3.5 million students since the application launching in August 2020
CoLearn edtech announced series A funding worth of $10 million or equivalent to 143 billion Rupiah. This investment round involved some investors, including Alpha Wave Incubation, GSV Ventures - as well as venture capitalists in their initial funding round, namely Surge (Sequoia Capital India) and AC Ventures. The company plans to use this fresh fund to develop products, technology and marketing.
"Despite having the fourth largest education ecosystem in the world with 50 million students, 3 million teachers and about half a million schools; the quality of education in Indonesia has remained far below its true potential for decades. A passion to motivate students and ensure them to be succeed in the global world is what drives us all at CoLearn," CoLearn's Co-Founder & CEO, Abhay Saboo said.
Abhay continued, "Many Indonesians do not realize that education is a means to improve the country's economic strength. Parents have not connected the two points. However, it slowly changes. Our mission is to accelerate this change by improving the quality of education."
Not ready to subscribe yet? Purchase and access this article