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Edutech startup Zenius secures $40 million in funding
The education technology (edutech) start-up received the funding from state-owned telecommunications company Telkom.
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T
echnology-based education platform Zenius said on Tuesday it had secured funding from MDI Ventures, a subsidiary of state-owned telecommunications company Telkom, bringing its total funds raised to more than US$40 million.
Also participating are existing investors, including Northstar Group, Alpha JWC and Openspace Ventures, as well as a new investor, Beacon Venture Capital, the corporate venture arm of Thailand’s Kasikorn Bank.
Zenius CEO Rohan Monga said the funds would be used to expand the company’s learning ecosystem, develop learning technology and gamify the platform.
“We will be able to extend our reach to broaden our impact on education with our recently acquired network with Primagama. We strongly believe that the hybrid learning model, offline and online, will deliver the highest outcome for the students,” Rohan said in a statement on Tuesday.
Read also: Zenius opens free access to study videos for students nationwide
The education technology sector in Indonesia is still greatly underpenetrated, according to Alpha JWC Ventures’ Partner Eko Kurniadi, implying that the platform had a growing market.
“The whole ecosystem of Zenius will be extremely powerful in providing best-in-class content with the strongest partners in the region,” Eko said, referring to the company's recent acquisition of learning course firm Primagama and its exclusive partnership with Disney.
Read also: Future of Indonesia’s education tech lies in untapped categories, experts say
“We believe that Zenius' learning ecosystem, combined with its pedagogy, personalized learning approach and extensive offline network support, will be able to deliver a bigger and faster impact on education in Indonesia,” MDI Ventures CEO Donald Wihardja said.
Zenius provides an online learning platform offering a series of products, including K-12 education and professional upskilling, with its main product, the Zenius app. The company follows the most recent Indonesian national curriculum.
Founded in 2004, the education technology platform claimed it had been accessed by over 20 million users from 300 rural and urban areas across Indonesia in the 2019-2020 academic year.
“We look forward to supporting Zenius on its strong growth trajectory,” said Northstar Group cofounder and managing partner Patrick Walujo.
