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Gredu bags $4m Series A fund for nationwide expansion
The technology start-up, which offers digital school management and learning management features through its app, is looking to expand its services to other cities amid increased demand for quality online learning tools during the pandemic.
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ducation technology (edutech) start-up Gredu plans to expand its market beyond Greater Jakarta to other big cities with US$4 million in newly raised Series A funds.
In a statement on Tuesday, Gredu said that the funding round was led by Intudo Ventures and early investor Vertex Ventures, and that it would also use the fund to recruit new talents and develop personalized products for students and school administrative staff.
“We are sure about the market and the development of digitalization in education. We aim to expand our national and regional markets throughout the coming year,” Gredu cofounder and CEO Rizky Anies said in the statement.
Read also: Future of Indonesia’s education tech lies in untapped categories, experts say
Established in 2016, the company has partnered with more than 400 primary and secondary schools and has more than 400,000 users to date.
Rizky added that the company was developing new products for preschools and universities as well as more interactive features for its existing products, such as through gamification, or applying gaming principles and elements in a nongame context.
The Gredu application offers four main features: a school management system for school administrators, a learning management system (LMS) for teachers, a monitoring feature for parents and an self-monitoring portal for student attendance and grades.
Read also: EdTech uses online games to teach students during pandemic
“The pandemic has accelerated the education industry’s digitalization needs,” said Vertex Ventures managing partner Joo Hock Chu, who added that the firm believed the edutech start-up was “in a favorable position to utilize this change and help increase Indonesia’s education quality”.
Edutech and health tech are the two nascent industry verticals that saw the strongest growth last year, driven by higher demand for online services amid public mobility restrictions, according to the e-Conomy SEA 2020 report by Google, Temasek and Bain & Company.
