Traditional learning has been largely untouched since its introduction. With current advancements in technology, edtech trends have paved a new path for educators to deliver education and enrich their students’ learning. Since the COVID-19 pandemic started over a year ago, a new pool of advancement opportunities began to garner attention from edtech startups in Southeast Asia.
Within Southeast Asia, edtech startups from all areas began throwing their innovations into the ring to bring about the changes that the education sector needed. Much of the focus was put on keeping up with the changing times and demand for better learning options. The main areas of interest include vocational training, the digitisation of schools, and learning management systems (LMS) implemented by educational institutions through business-to-business (B2B) partnerships. We take a look at five edtech startups in Indonesia that are changing the game.
We speak to the next generation of edtech leaders in Southeast Asia
Launched in August 2020, CoLearn is an app that students can use to advance their educational experience. The app is designed to help guide students towards better learning, better grades, and compete in mathematical competitions globally using a quality and results-driven tutoring alternative.
They recently secured $10 million USD in a Series A round of funding, bringing their total funding to roughly $17 million USD since their inception. The round was co-led by a $300 million USD venture fund known as Alpha Wave Incubation (AWI), which Falcon Edge Capital and GSV Ventures manage. Their existing investors Sequoia Capital India’s Surge and AC Ventures also participated in the round.
The edtech startup Ruangguru made waves in the edtech industry when they launched their free online school platform in the wake of COVID-19. Their desire to keep children in Indonesia learning while stay-at-home orders were in place garnered them high praise and ten million users. This innovative and quick-thinking jump to provide education to students in the country that may have otherwise missed out during the lockdown also earned them a spot on the Top 25 World’s Most Innovative Company list by Fast Company.
In December of 2019, Ruangguru received $150 million USD in a Series C funding round led by GGV Capital and General Atlantic. Tiger Global Management and GGV Capital led their most recent funding of $55 million USD. They are now sitting at a valuation o f$800 million USD, which means they are well on their way to approaching unicorn level.
Another company that began free offerings during the COVID-19 pandemic was Zenius Education. The company was reinvented as an edtech startup in March 2020 and aims to provide online class-based learning for students across the country. The company saw a tenfold surge in user growth in the months following its launch and managed to keep a user retention rate of 90% during that time.
Almost half of their overall revenue stems from their live classes that have seen user numbers reach 10,000. They have also proved their worthiness over time, with a high number of their students passing the high-stakes national college entrance exam and acceptance at universities in Indonesia and across the globe.
Last year, the company raised $20 million USD and managed to expand its team. Their current goal is to expand their platform to meet customer demand. Zenius’ offerings have given them a seat at the edtech table, and their revenues have grown exponentially at over 70% in the third and fourth quarter of 2020.
Pahamify came from humble beginnings in mid-2017. It was founded by a then Youtube science influencer but has grown into a promising contender on the edtech scene. Their main goal is to provide students with supplementary education materials to help them succeed in their learning efforts and bring their education to new heights. The materials offered include educational videos, test preparation, and live tutoring.
In November 2020, the edtech startup secured $150,000 USD in a Series A funding round from Wah Hin & Co., Shunwei Capital, and Insignia Ventures Partners. The company’s popularity is growing exponentially, and its user base has increased by fifty times in 2020 alone.
HarukaEdu has also benefited from the growth of the edtech industry in Southeast Asia. The company offers easy access to virtual online classes, educational content, and technologies with its training and management platform. With the option for free classes, courses, certifications, and systems for corporate and educational institutions, their growth can be attributed to their myriad of offerings.
Over the course of three rounds of funding, the edtech company has managed to secure $2.2 million USD to help pave the way for its growth. Their most recent funding of an undisclosed amount occurred in a Series C round and pulled investors such as Susquehanna International Group (SIG), Gunung Sewu Group, GDP Venture, and AppWorks.
These edtech startups in Indonesia are on top of the edtech trends the area is experiencing and plan to see more growth in the year ahead. Following in the footsteps of some great edtech startups in Southeast Asia, these five have proven themselves worthy contenders in the realm of edtech solutions.