With the pandemic online learning has become a new thing and has boosted many startups in many countries. Many new companies have come up with new ideas to teach online and promoted their Edtech business and raise funds. One such company is the Malaysian Edtech Startup AOne that raised a seed funding of $500k from Wavemaker, an early-stage VC firm. AOne also raised about $48,000 from Scale-up Malaysia in April during its inauguration in April.
About Edtech Startup AOne
AOne marked the beginning of its journey in 2015 and offered offline learning services and tuitions. From then it had a wide range of offerings like Maths to regional languages and also hobbies like dance, drawing and more. Slowly and steadily, the startup expanded to various educational institutions and has many teachers and centres using their services.
The startup is now focusing on teaching online. Teachers can now schedule classes, manage data of students, make important announcements and also collect fees all from one single platform. At present, there are over 100,000 students and 50,000 classes active on their platform.
Details about the funding
With the seed funding of 500k USD, they plan to expand their operations and increase their market base. AOne’s presence is mostly limited to Singapore and Malaysia at the moment, but by using the fund, they plan to change that. With the expansion, the startup is also looking forward to improving their offerings and also increase them.
Future of the startup
Wavemaker has made many sensible investments in South-east Asia and closed its third fund at $111 million. With the backing of the VC firm, it is quite evident that the Edtech startup AOne has the potential to deliver. According to some estimates by KEN Research, the Malaysian Edtech industry is going to generate about $2 billion by the end of 2023. The research also stated that in the next 5 years the growth rate of e-learning will be CAGR 16.1%.
This is because the enrollment in schools will rise and they might promote online learning as a viable option. This makes the ideas and use of the services of startups like AOne more viable and useful.
Have you ever studied online before the pandemic? It might be a course on Udemy, Coursera, Youtube or somewhere else. Or, it might even be online tuition. Let us know in the comments below. Also, if you found our content informative do like and share it with your friends.