South African ed-tech startup The Student Hub has become the fourth startup to secure backing from Naspers Foundry, raising ZAR45 million (US$2.9 million) to help it expand.
The Student Hub increases access to vocational education to large numbers of students, whilst reducing the costs of delivery of education and training, by partnering with government accredited Technical and Vocational Education and Training colleges to help them deliver their courses online.
See Also: 2020 AgriPitch competition 25 finalists announced
The startup has secured a ZAR45 million (US$2.9 million) funding round from Naspers, one of the largest technology investors in the world. Naspers launched Naspers Foundry, a ZAR1.4 billion (US$96 million) fund to help South African tech entrepreneurs grow their startups, in October 2018, and has since invested in SweepSouth, Aerobotics and Food Supply Network.
See Also: Nigerian Musician Patoranking Becomes Brand Ambassador for WorldRemit
Its investment in The Student Hub brings its total investment since launching Foundry to ZAR200 million (US$13 million), and Phuthi Mahanyele-Dabengwa, Naspers South Africa chief executive officer (CEO), said she believed tech companies have the potential to be the cornerstone of South Africa’s economic growth.
See Also: Applications Now Open for the Westerwelle Young Founders Programme
“We want to play a role in unlocking that potential. Our investment in The Student Hub is an example of how digitalisation has the potential to address unequal access to education, create local opportunities, and enable increased participation towards a more inclusive economy,” she said.
Se Also: South African University Spins out 5 New tech Startups
Hertzy Kabeya, founder and CEO of The Student Hub, said he was delighted to be partnering with Naspers given their deep international experience in the ed-tech sector.
“We are a technology company that believes that improving access to education to millions of students across South Africa is at the core of what we do. Linking graduates with the right economic opportunities that relate to their skills are what the economy needs right now,” he said.
Bukola Owo-Bello is a spirited storyteller, content creator and YouTuber who loves sharing amazing opportunities, inspiration, and ideas with forward-thinking African youths.
Follow her on YouTube, TikTok and Instagram on @BukkiTalks
