Edves Raises $500, 000 as it Readies to Expand its Edtech Platform beyond Nigeria
Edves, a Nigerian edtech startup, is set to raise $500, 000 worth of seed funding. Business Elites Africa understands that the money is intended to facilitate the company’s expansion across Africa.
Already, Edves is present in Ghana following a strategic ‘zero-rating agreement’ with MTN earlier in the year. Ghana is the only other African country where the edtech startup currently operates besides Nigeria. It has also been adjudged the most used edtech platform in Nigeria, according to web traffic stats obtained from Crunchbase, Google Analytics, and Similar Web.
The Co-founder and Chief Executive Officer of Edves, ‘Dimeji Falana, enumerated the countries where the company is hoping to expand to, saying – “In our go-to-market strategy, we are expanding to 10 other African countries to acquire schools… We are now acquiring schools in Ghana, Zimbabwe, and Botswana. Also, we are acquiring clients across other regions of Nigeria.”
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Note that Edves helps schools to automate their processes/operations such as admission and result processing. It was established in 2016. But as it is has been the case with most innovative African tech startups, it only received a major boost earlier this year after the COVID-19 pandemic disrupted both social and economic activities and sent everybody online.
Meanwhile, this would not be Edves’ first funding round. The company recently secured US$120,000 worth of funding from Chinook Capital, a VC company that organises the Founders Incubator programme. Edves also won the Seedstars Global Education Prize in 2018. It also won the Growth Capital Fund of the Co-Creation Hub (CcHub) incubator in 2018, and had recently participated in the global MindCET Go Accelerator Programme.
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