MDI Ventures, the corporate venturing arm of state-owned telecommunications giant Telkom Indonesia, led an undisclosed fundraising round for Indonesian edutech startup Zenius today.
Northstar Group, Alpha JWC, Openspace Ventures, and Beacon Venture Capital, a corporate venture arm of Thailand’s Kasikorn Bank, are among the existing investors in the round.
According to a news release, Zenius has raised over US $40 million in total with this fundraising round. It has previously announced that it had completed a Pre-Series B fundraising round in January 2021.
Primagama, a local cram school behemoth with a 40-year history, was recently acquired by the company, which made headlines.
Zenius CEO Rohan Monga said, “The funding will support the further development and expansion of our learning ecosystem. We will focus on improving our personalised learning experience by enhancing our adaptive learning technology and gamifying our platform to boost students’ motivation. Through our recently acquired network from Primagama, one of the biggest tutoring service providers in Indonesia, we will be able to extend our reach to broaden our impact on education. We strongly believe that the hybrid learning model, offline and online, will deliver the highest outcome for the students.”
Aside from the acquisition, Zenius recently announced a relationship with Disney for its primary school section, as well as the debut of ZenPro, a platform for professional or lifelong learning.
Zenius, which was founded in 2014, claims to have assisted more than 1.5 million graduates in gaining admission to Indonesia’s top private and state institutions. Seven out of ten Zenius premium users passed the high-stakes national college admission exam last year, resulting in a fourfold rise in Zenius income.
Monga emphasised the importance of teamwork in assisting the company’s growth.
“Zenius is a collaborative player. We believe that we can realise our mission to shape smarter, brighter, and more fun Indonesia through collaboration, partnership, and synergy with various stakeholders like MDI who share the same vision, which is to improve education in Indonesia,” he said.