The investment round was led by Ingressive Capital, with participation from Techstars, HoaQ Capital, and angel investors.
Founded in 2022 by Nathan Nwachuku and Lekan Adejumo, Klas aims to become the “Shopify for education” by providing a user-friendly platform for individuals to create and sell online courses, ebooks, and live classes.
The platform caters to a diverse range of subjects, including coding, design, finance, art, and languages, and offers essential features like payment processing, scheduling tools, analytics, video conferencing, and community-building functionalities.
With this fresh injection of capital, Klas sets its sights on ambitious goals. The company plans to empower 100,000 virtual schools globally by 2027, with a particular focus on expanding its reach in North America and India, its second-largest user base.
“We want to make it easy for anyone to share their knowledge and expertise with the world,” explains Nwachuku, Klas’ CEO. “Klas empowers aspiring educators and entrepreneurs to build their own online schools and reach a global audience.”
Klas’ journey began in 2021 when Nwachuku partnered with Adejumo, the company’s CTO.
They secured an initial $180,000 angel round and officially launched the platform the following year. Subsequently, Klas gained entry into the prestigious Techstars accelerator program, further validating its potential.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Ed Partners Africa, a Kenyan non-banking financial institution that specializes in providing loans to affordable private schools, has announced a $10 million loan guarantee facility from the United States’ Development Finance Corporation (DFC).
South African private equity firm Sanari Capital has announced a significant R87.5 million (approximately $5 million) investment in Energenic Holdings, a leading provider of energy generation products and solutions operating in over 32 African countries.
Untapped Global, a leading impact investment firm, has announced a strategic investment in ElimuTab, a Kenyan educational technology startup.
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