[Funding alert] Edtech startup CoLearn raises $10M Series A investment led by AWI, GSV
Indonesian edtech startup CoLearn has raised $10 million Series A investment, led by Alpha Wave Incubation (AWI) and GSV. It will invest the funds in product, technology, development, hiring, and marketing.
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Indonesian edtech startup CoLearn has raised $10 million Series A funding led by Alpha Wave Incubation (AWI) and US-based edtech investor GSV Ventures. Existing investors, including Sequoia Capital India’s Surge and AC Ventures, also participated in the round.
This round of funding has made CoLearn one of the most well-funded edtech startups in Indonesia. The fund-raise, in less than six months of its previous rounds, is the US-based fund’s first investment in Indonesia.
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CoLearn launched its online platform in August 2020 and has scaled to reach 3.5 million students. It has set up a technology team in India and aims to double its size by the end of 2021. People with experience in data science, product and engineering roles will be hired across India, Indonesia and the United Arab Emirates.
“Despite having the world’s fourth largest education ecosystem with 50 million students, three million teachers and half-a-million schools, the quality of education in Indonesia has remained much below its real potential for several decades,” Abhay Saboo, co-founder and chief executive officer at CoLean, said in the statement. “The scope for motivating students and ensuring they can thrive in a globalized world is what drives us at CoLearn.”
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