SA edtech Startup FoondaMate Secures $2M Seed Funding
FoondaMate, a South African edTech company, has raised $2 million in a seed round headed by LocalGlobe, a UK-based venture capital firm, to grow its Whatsapp and Facebook-based learning chatbot abroad.
Other investors included Emerge Education, FirstCheckAfrica‘s Odunayo Eweniyi, Future Africa’s Iyin Aboyeji, and LoftyInc, as well as Luno’s Marcus Swanepoel and Justworks’ Isaac Oates.
The company is concentrating on localizing its learning resources in order to accommodate students in new countries and increase its platform to more than 50 million people. Its current investment round gives the resources required for its rapid expansion.
Foondamate aids students in their review by offering instant answers to questions, as well as study papers and instructions on how to react to questions.
According to co-founder Dacod Magagula, the startup is aimed at college students in underdeveloped nations where Whatsapp is extensively used and is either inexpensive or free.
He thinks the company’s learning chatbot is easy to use, inexpensive, and provides a structured alternative to studying with search engines.
Educators can use FoondaMate’s integrated capabilities to assign and submit homework as well as share other educational materials with students.
FoondaMate’s viral growth, according to LocalGlobe partner Ziv Reichert, demonstrates how well the product resonates with learners and speaks volumes about Dacod and Tao’s deep grasp of their users’ needs.
He continued, “FoondaMate has grown into a tool that is presently utilized and loved by students from all over the world, with a range of needs and learning styles, after starting out with a mission to improve the way African students study.”
To construct a product like this, the investors believe it takes a lot of empathy for the problem and a long-term perspective.
The way pupils study is changing as a result of technology improvements. Students of all ages are accustomed to swiping a tablet and searching the internet for solutions. Technological innovations have altered education by making it more accessible.
EdTech solutions must first and foremost make education exciting, amusing, and most importantly, understandable for students.
This is how technology can assist you in achieving your goals. Students no longer have to fail because platforms such as FoondaMate can assist them in solving challenges.
Furthermore, educational technology such as FoondaMate provides students with thorough, tailored feedback. It also helps students by guiding them through the class and keeping their focus on WhatsApp, their preferred messaging app. Students can acquire learning tools at a low cost or even for free thanks to edtech like FoondaMate.
