Edukoya
Edukoya's platform provides practice papers, expert step-by-step explanations, detailed performance analysis reports, and online tutor support, enabling students to learn from anywhere.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
| investor | €0.0 | round | |
* | $3.5m | Seed | |
| Total Funding | 000k | ||
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Edukoya was an education technology company, founded in 2021 by serial entrepreneur Honey Ogundeyi, that aimed to connect African K-12 learners with qualified tutors for real-time, personalized learning. Ogundeyi, a Nigerian entrepreneur with a background at Google, McKinsey & Company, and as a co-founder of the digital bank Kuda, was inspired by the disparities she observed between the Nigerian and Western education systems. The company was established to address systemic issues in Nigerian education, such as large class sizes and limited access to high-quality instruction.
The London-based startup operated a 100% online model through a mobile application. Its core service provided one-on-one and group live interactive classes, 24/7 homework help, and exam preparation for Nigerian and international curricula. The platform featured a data-driven question bank with step-by-step solutions and personalized performance tracking to help students prepare for key exams like WAEC and JAMB. The business model was intended to be freemium, offering free supplementary content while generating revenue through paid subscriptions for premium features like live tutoring.
In December 2021, Edukoya secured a significant $3.5 million in a pre-seed funding round led by Target Global, which at the time was the largest pre-seed round for an African edtech startup. The funding attracted prominent angel investors, including founders from Paystack and Kuda. Despite this early success and onboarding over 80,000 students, the company faced substantial challenges. A high operational burn rate, difficulties in converting free users to paying customers, and intense market competition proved difficult to overcome. Ultimately, the business was deemed unsustainable due to macroeconomic pressures, low market readiness for its synchronous learning model, and poor internet connectivity and device penetration in its target market. After exploring mergers, acquisitions, and pivots without success, Edukoya ceased operations in early 2025, opting to return remaining capital to investors.
Keywords: Edukoya, Honey Ogundeyi, African edtech, Nigerian education, online tutoring, K-12 learning, exam preparation, personalized learning, mobile learning, Target Global, edtech shutdown, education technology, online learning platform, virtual classroom, supplementary education, digital curriculum, homework help, investment, venture capital, African startups
