South African edTech startup, iXperience (iX), has secured $2.5 million in Series A funding to enlarge its team, grow its innovative tech platform, unveil programs across various markets, and build its global strategic partnerships division.
Kalon Venture Partners, a disruptive technology VC team, and relationship-focused investment management and advisory firm, Caleo Private Equity, led the round.
Aaron Fuchs and Rafi Khan, iXperience founders, felt something fundamental was missing from their four years of theoretical experience at Yale University. They noticed they lacked skills for work after school, and the school material they used was outdated. Therefore, they desired a university that prepares and helps students for the future of work and inspires them to have their comfort zones and challenge themselves.
And in 2013, that aspiration became a reality. They started as a coding boot camp to bridge the gap between academia and industry. Since then, iXperience has developed into a global operation that has reportedly helped over 2,500 students fast-track their careers while exploring the world.
Now, iXperience aims to build transformational learning experiences that give students the best life possible by creating development programs for university students, professionals, and executives, while partnering with institutions to transform how the world prepares students for the future of work. It has become an industry leader in career-focused skills training.
Clive Butkow, Kalon Venture Partners CEO, approved the company’s decision to invest in the brilliance and talents of iX’s team and their spectacular service to Africans and the world. He also believes the edtech company will contribute positively to driving the digital education sector.
Khan said that the main differentiator for iX is the inclusion of sophisticated technology, which prompts them to create new programs quickly.
It appears that edtech startups are trying to modify education in Africa. Early this year, uLesson, a Nigerian edtech startup, raised $7.5 million Series A. HolonIQ, a research firm, reported that in 2020, edtech ventures acquired $16.1 billion in VC money globally.
Also, in 2020, we reported that Kenyan edtech startup, M-Lugha is helping every Kenyan learn in their native language. Perhaps, due to some gaps in effective evaluation and tech enablement of the educational sector, edtech solutions do not seem capable of shifting traditional learning models anytime soon. However, there are edtech models in Nigeria which continue to magnify productive results.