Prominent angel investors as well as the founders and executives of some of Africa’s top SaaS, e-commerce, and education startups contributed to the funding round.
A pre-seed funding round of $1 million was successfully raised by the Kenyan EdTech startup Craydel. The company’s platform provides an excellent tool for contrasting universities, programme choices, and tuition costs.
With the most recent funding, Craydel hopes to improve its search and recommendation technology, increase the number of resources available online, and fundamentally alter the way students choose their higher education path.
The investment round was led by Enza Capital, a private venture fund that focuses on early-stage tech startups in Africa. Future of Learning Fund, BriteGaze, Bisk Ventures, and Tekton Ventures are some of the other notable participants.
Prominent angel investors as well as the founders and executives of some of Africa’s top SaaS, e-commerce, and education startups contributed to the funding round. Additionally joining as investors were LoftyInc Afropreneurs Fund from Nigeria and Chandaria Capital from Kenya.
Earlier this year, Manish Sardana, John Nguru, and Shayne Aman Premji founded the edtech startup Craydel. The startup was created as a result of the founders’ realisation that there isn’t a trustworthy platform in Africa that directs college and course selection decisions.
The trio’s goal in creating Craydel is to empower students by giving them access to accurate information about colleges, enabling them to make wise decisions.
An estimated $30 billion is spent on higher education each year in Africa. The way that students currently access higher education, however, is hardly satisfactory.
Craydel aims to improve student experience by aggregating choices and combating biases. The platform empowers students to discover, compare, and apply to higher education institutions across Africa, offering online certificate programs, career assessments, and guidance on course application and visa processes.
Over 90 African and international colleges and universities have partnered with Craydel, connecting students with 3,000 higher education programs. The platform uses AI-powered search and recommendation engines to provide personalized options based on interests, grades, budgets, career aspirations, and aptitude assessments.
The internet is becoming more widely used, and more people are enrolling in higher education, which bodes well for the EdTech market in Africa. By 2030, it is expected that Africa will spend $740 billion on education, with a compound annual growth rate of 14%.
Furthermore, it is anticipated that spending on edtech will increase quickly and reach $57 billion by 2030. Craydel is well-positioned to address the issues of accessibility, quality, affordability, and information in the education sector, along with other EdTech startups in Kenya.
The company will be able to revolutionise college selection and career counselling for students in Africa thanks to Craydel’s successful funding round.
Students can access the best educational pathways, realising their full potential, thanks to Craydel’s extensive resources, tailored recommendations, and verified information.
The investment supports the startup’s expansion while also hastening the advancement of higher education and skills across the continent.