Edtech startup Syafunda has secured an R2.5 million investment funding from Edge Growth.
The startup plans to use the new investment to scale its platform. The company has seen demand for its services in South Africa spike in recent months, with online learning in greater demand since the outbreak of the coronavirus pandemic.
Syafunda, founded in 2013, provides an educational platform where learners can access content via their mobile devices. The startup also partners SA content developers to set up digital libraries for learners, especially in areas with poor internet connectivity.
The digital libraries come pre-loaded with 5 terabytes of content and are designed to emit Wi-Fi hotspots. It means that any person with a mobile device and is within the range has access to the content and can download it for use- all for free. Schools or corporate sponsors cover the cost of the infrastructure.
Syafunda founder Zakheni Ngubo says he “grew up in townships” that suffered from a shortage of textbooks and teachers.
“I wanted to solve those challenges and provide digital access for high school and post-high school students,” Ngubo added in a press statement.
According to Ngubo, the startup will use the R2.5 million funding to develop a new online bookstore. The new services will allow learners in the country to rent digital copies of textbooks.
The startup had before the latest investment, secured more than R2.7 million. It includes R1.5 million from Ketso Gordhan, the CEO of SA SME and R1 million from edtech accelerator Injini and R250, 000 from BEE consulting firm Simanye.