HR TECHNOLOGY: Indonesian startup CoLearn has received a USD17 million injection, as part of a Series A extension round. The company had previously raised USD 10 million in its initial Series A, with both local and foreign investment interests taking part in the shareholding.
The startup is an online live learning, physical tutoring, and homework help platform for university students across Indonesia, but it also has potential applications for corporate training programs. Launched back in August 2020, CoLearn uses AI-powered problem-solving technology and video solutions to accommodate the hybrid model workplace and classroom and has more than 250,000 pre-recorded videos available for users to access.
Its initial funding has already attracted 4.8 million users and over 85 million questions from students.
"Since launching CoLearn, we’ve been very focused on creating a product users love. CoLearn is not only helping students build a strong foundation in STEM (science, technology, engineering and mathematics) subjects but also has an immediate impact, as over 80% of our subscribed students have seen an improvement in their grades," said Abhay Saboo, Co-Founder and CEO of CoLearn
The firm is expected to use the extension round of funding to accommodate the growing demand, and further improve its brand's presence in the country, including through collaboration with more local universities.