Indonesia: Binar Academy, an Indonesia-based edutech startup, has raised seed funding in a deal led by Singaporean VC firm Teja Ventures.
Eduspaze, The Indonesia Women Empowerment Fund, Savearth Fund, and several angel investors from the Angel Investment Network of Indonesia (ANGIN), also participated in the round.
The startup said that it will use the fresh funds to accelerate the growth of its core technology and hire more educators.
Founded by ex-gojek executives Alamanda Shantika and Dita Aisyah, Binar Academy aims to equip high school and university students with the necessary skills required to succeed in the evolving digital economy.
The four-year-old company claims to have educated over 8,000 students and placed talents for jobs, leading to revenue growth of 80 per cent last year.
“In the past three years, we have continued to evolve our core product – Binar Bootcamp – to fulfill the learning experience of our students and the market demand for digital talent. We are excited for the opportunity to expand our reach, educate more students, and build a community of lifelong learners,” shared Shantika.
“The COVID-19 pandemic has driven Indonesia’s education institutions, teachers, students as well as parents to adapt to online learning. However, we still need to innovate the way education is presented to create a more approachable and enjoyable learning experience. I’m confident that the combination of enhanced learning experiences, technology, and community cultivated by Binar Academy will bring that,” she added.
According to The World Bank, skill sets of ICT (Information and Communication Technology) graduates in Indonesia fall short of industry requirements, projecting a shortage of nine million skilled and semi-skilled ICT workers up to 2030.
This is why Binar Academy believes that developing new talents and upskilling existing talents for the digital economy is becoming more urgent in Indonesia.