In this week’s dealmaking news, two Asia-based education companies raised funds from the investment community: Chinese app provider Knowbox, and technology solutions provider HarukaEdu, which is based in Jakarta.
Knowbox Raises $15 Million: Beijing-based startup Knowbox, provider of of two education apps designed to help K-12 students and teachers manage their homework, has raised $15 million in a Series B funding round led by Chinese investor Genesis Capital, according to Chinese press reports, which noted that existing investor Legend Star also participated in the round.
HarukaEdu Raises $2.2 Million: HarukaEdu, a Jakarta-based startup that provides technology solutions to enable higher-ed institutions to offer degrees online, has raised $2.2 million in a round led by the Pearson Affordable Learning Fund and Samator Education, alongside Cyber Agent Ventures, according to a press statement from Pearson.
The funding will enable HarukaEdu to develop its partnerships with top higher-education institutions in Indonesia to offer degrees online, according to the statement, which noted that this is its first investment into the online higher education space.
The Pearson Affordable Learning Fund (PALF) was launched by Pearson in July 2012 with $15 million of capital. In January 2015, Pearson committed an additional $50 million in capital to expand PALF’s work within emerging markets. Its mandate is “to invest in companies that can build quality, scalable education solutions to meet a growing demand for affordable educational services across Africa, Asia and Latin America,” the statement noted.
Jefferson Education Accelerator Partners with Formative: In addition, the Jefferson Education Accelerator has announced it will make an equity investment in and collaborate with ed-tech company Formative, in just the latest deal announced by the commercial entity supported by the University of Virginia.
The funding will support quasi-experimental research to evaluate the impact of Formative’s informal, formative assessment data on student learning and instructional decision-making. See our earlier Marketplace K-12 post with more details on the accelerator’s investment in Formative.
Be sure to check back on Marketplace K-12 for updates on mergers, acquisitions, fundraising, and other dealmaking. Also see EdWeek Market Brief, a service that gives companies operating in the market insights on the needs and priorities of school officials.