African Edtech Startup Ulesson Raises $15m, Backed by Nielsen Ventures and Tencent
As many edtech companies benefited from the disruption of the pandemic, attracting wads of cash from investors globally, it did feel like African startups were left out. Well, not anymore: Two-year-old startup uLesson announced today that it closed a $15 million Series B round.
The investment, which comes 11 months after uLesson raised a $7.5 million Series A, was completed by five investors: Tencent, Nielsen Ventures, and existing investors Owl Ventures, TLcom Capital and Founder Collective. It is the largest disclosed investment in an African edtech startup.
Founded by Nigerian serial founder Sim Shagaya in 2019, uLesson came into the market when the pandemic hit last year. As a young company, it has had to switch business models a couple of times to see what sticks in a very tough African market.