South African-based edTech startup, iXperience, has secured a funding of $2.5 million in its Series A funding round.
According to the startup, the funding would be used to enlarge its team, grow its innovative tech platform, unveil programs across various markets, and build its global strategic partnerships division.
The funding round was led by venture capital firm, Kalon Venture Partners, and Caleo Private Equity.
The two co-founders, Aaron Fuchs and Rafi Khan, started the company out of the theoretical experiences they had in Yale university.
The co-founders noticed various inadequacies in the education sector, especially, the lack of skills for work after school, and how school material are outdated.
This led to their decision to start a university that prepare and help students for the future of work.
Since 2013, when the start-up was founded, iXperience (IX) claimed that ut has helped over 2,500 students fast-track their careers while exploring the world.
According to a report by Techpoint, iXperience aims at building learning experiences that give students the best life possible.
This, the start-up wished to achieve by creating development programs for university students, professionals, and executives, while partnering with institutions to transform how the world prepares students for the future of work.
Kalon Partner CEO, Clive Butkow, noted that Kalon Venture Partners’ decision to invest in iXperience was due to the brilliance of iX’s team, and their spectacular service to Africans and the world.
He also believes the edtech company will contribute positively to driving the digital education sector.
Edtech startups have lately been pushing boundaries to modify education in Africa. Start-ups like uLesson, recently raised $7.5m to push its aim for the education sector.
According to a research by HolonIQ, which is a research firm, in 2020, edtech ventures acquired $16.1 billion in VC funding, globally.