TNB Aura, KTB Network (South Korea), and Indonesian university Binus Group have contributed the extra US $17 million to Jakarta-based CoLearn, an online K-12 live learning and homework aid platform.
AWI, Sequoia Surge, GSV Ventures, AC Ventures, Leo Capital, and January Capital were among the existing investors.
CoLearn has already raised a total of US $34 million in investment since its launch. The fresh funds will be used to improve the company’s go-to-market strategy, allowing it to grow its paid user base in Indonesia.
CoLearn, founded in 2020 by Abhay Saboo, Marc Irawan, and Sandeep Devaram, offers live interactive courses to youngsters in Indonesia as an alternative to traditional offline tuition. Students may learn how to answer STEM questions from the comfort of their own homes.
CoLearn gives access to the “best teachers” in the country through live interactive lessons for students who are unable to grasp ideas taught at school. The platform claims to provide high-quality video solutions with simple, straightforward explanations.
CoLearn claims to have over 4.8 million members and over 85 million queries asked since its inception. With its AI-powered problem-solving platform, the number of inquiries requested more than doubled by 2021.
CoLearn has a technological team based in India and the United Arab Emirates. In these nations, the organisation is currently trying to grow its workforce and hire for data science, product, and engineering positions.
Abhay Saboo, Co-Founder & CEO of CoLearn, said: “CoLearn is not only helping students build a strong foundation in STEM subjects but also has an immediate impact, as over 80 percent of our subscribed students have seen an improvement in their grades. With a consistent NPS (Net Promoter Score) of over 70 for our live classes and 90 percent organic traffic of our AI-powered homework help feature, we are actively working towards changing the mindset around online tutoring with our offering that blends AI and interactivity.”
CoLearn has previously secured US $10 million in Series A investment from Alpha Wave Incubation, GSV Ventures, Sequoia Surge, and AC Ventures before obtaining US $17 million.
