Nigerian edtech startup Edukoya has ceased operations due to significant market challenges, including limited access to devices, widespread connectivity issues, and lack of disposable income. Despite raising $3.5 million in pre-seed funding in 2021, the company struggled to scale its synchronous learning model.
Edukoya’s founder and CEO, Honey Ogundeyi, had aimed to redefine online K-12 learning in Africa by providing digital education content and online tutoring.
However, the company encountered insurmountable market readiness challenges, leading to the decision to wind down operations and return capital to investors.
During its nearly three-year operation, Edukoya made notable progress, with over 80,000 students using its platform, 15 million questions answered, and thousands of daily live classes conducted.
Despite this, the company ultimately decided that shutting down was the best course of action, rather than depleting resources in a challenging market.
The shutdown highlights the difficulties faced by edtech startups in Africa, where internet connectivity and infrastructure challenges can hinder the reach of digital education platforms. Despite optimistic projections for the edtech sector, few platforms have managed to scale successfully, even with funding.
