uLesson closes $7.5m Series A round
uLesson is a Nigerian ed-Tech Platform founded by former Konga’s CEO Sim Shagaya.
Founded in 2019, uLesson has the vision to bridge the gap for K-7 to K-12 students (Grade 7-12) across Africa by delivering affordable, high quality and accessible education using Technology.
The $7.5million funding round was led by US-based Owl Ventures, the world’s largest edtech focussed VC with over $1.2 billion assets under management(AUM).
Other participants in this round are existing investors TLcom Capital – the $3.1m seed round leader – and Founder collective with LocalGlobe joining as a first-time investor.
Tory Patterson, managing director of Owl Ventures joins the uLesson board. There, he sits alongside TLcom partners, Omobola Johnson and Ido Sum who joined two years ago.
uLesson: Strides in edTech!
While schools stayed at home, there came a lot of opportunities with learning online and a company like uLesson.
Despite the stress that most businesses faced while he pandemic lasted, uLesson stayed afloat and the pandemic presented ample opportunity for the startup to launch at scale.
Sim Shagaya stated that “We are now witnessing an increased availability of data networks in Africa. With more affordable smartphones and the change in attitudes towards online learning accelerated by COVID-19, the foundations are now in place for an education revolution.
At uLesson, we know we have a critical role to play in this ‘new normal’ and this funding will be crucial in our drive to fill the major gaps in Africa’s education system through tech,”
It is almost impossible to determine which is the most amazing either the fact that uLesson raised $10.6m within two years of operation or that it managed to bring OwlVentures on board.
Shagaya’s charisma as a founder, the size of the Nigerian and African edtech market, and uLesson’s potential to become a juggernaut in the space as reasons for most of the participants in the Series A round.
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