CoLearn Pockets Advanced Funding Worth 244 Billion Rupiah

Startups EdTech CoLearn secured additional funding for its series A round worth $17 million or equivalent to 244 billion Rupiah. This raise brings the total funds raised by the company in the round to $27 million. Series A . funding they were first announced in April 2021 for $10 million.

This additional round was led by TNB Aura [previous investor], KTBN Venture, and PT Binus Investama Indonesia. Also involved were previous investors including AC Ventures, Leo Capital, January Capital, Alpha Wave Incubation, and Surge.

Regarding the news of this additional investment, Co-founder & CEO of CoLearn Abhay Saboo has confirmed. Added by him, CoLearn becomes a platform EdTech the first to receive investment from Surge and invested by Binus (Binus Group from Binus University).

From the data we obtained, currently CoLearn's valuation range has reached $100 million -- so CoLearn has entered the ranks of startups centaur.

Apart from Abhey, CoLearn was also founded by Marc Irawan and Sandeep Devaram. Since the application was launched in August 2020, they currently claim to have 3,5 million students.

One of their mainstay features is that it allows students to ask for solutions in answering questions in a lesson (in doing homework) -- an average of 5 million questions are uploaded per month. In the system, AI technology is embedded so that it automates the solution discovery process.

CoLearn also has educational content services that are packaged in video on-demand and class sessions live online delivered interactively by experienced tutors. It also has a training program for teachers. The target is, in the next 2 years they want to be able to train 200 teachers, especially in the STEM field.

Accelerating pandemic EdTech

In the report DSResearch: Edtech Report 2020 revealed, although not as clearly as other landscapes, for example fintech, educational startups are also starting to get the attention of investors; it has been proven that several startups have succeeded in obtaining funding, one of which is Ruangguru even reaching a valuation above $100 million.

The increasingly mature market share has created several players EdTech from abroad also make Indonesia a destination for expansion.

In addition to CoLearn and Ruangguru, platforms EdTech Others that have experienced positive growth and have received funding in the last three years are Zenius, Pahamify, Hacktiv8, Gredu, Arkademi, and HarukaEdu.