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Nigeria’s edtech startup, Edukoya, secures $3.5m pre-seed round. 2 other things and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Nigeria’s edtech startup Edukoya secures $3.5m pre-seed round

Edukoya, a Nigerian online learning platform, has announced securing US$3.5 million pre-seed funding.

The round, described as the largest preseed by an African Edtech, was led by Target Global.

According to Edukoya, the fresh investment will be used to transition from beta to live launch and build its team and customer base.

Earlier this month, the startup launched in beta, seeking to connect African students with the digital curriculum content and on-demand teachers for real-time online learning.

By venture, the platform combines a data-enabled question bank, world-class teachers, innovative technology and data science to deliver personalised learning across grades.

In its launch week, Edukoya was the second most downloaded education app in Nigeria, and it is now targeting growth after securing US$3.5 million in pre-seed funding.

Tech Trivia: Which of the following does not fall in the “technology services” category?

A Web hosting
B Email
C Social media
D Music
Answer: See end of post

2. Flourish Africa opens application to support female entrepreneurs

The Flourish Africa Grant has opened call for applications for Female Entrepreneurs.

READ ALSO: Nigerian agri-tech startup Zowasel secures $100k. 2 other things and a trivia

The grant, which is a N1billion fund to support and promote African female-owned businesses, is expected to run for over a 5-year period.

According to the management, the opportunity will see entrepreneurs through training, coaching, mentoring and funding.

In addition, the programme will empower the entrepreneurial activities of at least 2,500 female business owners through funding and structured training over a five-year period by providing cash and organized training.

Clarifying terms, the management noted that through the programme, a minimum of 500 female entrepreneurs would be educated each year, after which the top 100 achievers from the pool would be eligible for grants of up to N2 million each from a N200 million annual fund.

3. Africa’s Alitheia IDF closes $100m

Africa’s first women-led and women-focused private equity fund, Alitheia IDF, has announced closing a US$100 million fund.

According to Alitheia IDF, the equity fund is the largest gender-inclusive private equity fund on the continent.

Led by principal partners Polo Leteka and Tokunboh Ishmael, Alitheia IDF invests in growth stage companies across six African countries – Nigeria, South Africa, Ghana, Zimbabwe, Lesotho and Zambia.

Speaking on the development, the firm noted that the fund has a mandate to plug the over US$42 billion investment gap between male and female entrepreneurs as a means of catalysing the economic power of African women as producers, distributors, and consumers.

In 2021, the fund has led investment rounds in five women-led businesses, namely Jetstream Africa (Ghana), ReelFruit (Nigeria), SKLD (formerly SchoolKits, Nigeria), AV Light Steel (South Africa) and Chika’s Food (Nigeria).

The US$100 million close, which Alitheia IDF said makes the fund the largest of its kind in Africa, comes after the European Investment Bank (EIB) joined as the closing investor, investing US$24.6 million.

Trivia Answer: Technology Services

Technology services are, not surprisingly, services that involve technology. These include information technology, or IT, services, such as technical support, computer networking, systems administration, and other services.

Common Internet services, such as Web hosting, e-mail, and social networking websites also fall under the scope of technology services. Therefore, the terms “technology service

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