Edtech start-up Zzish raises £1.5m to bring total funding to £3m
The London-based start-up will use the funds to aid international expansion, with the global edtech industry set to be worth $252bn by 2020
Edtech start-up Zzish has raised £1.5m in a funding round led by Chinese investment fund Leaf Investments and Neil Hutchison, angel investor and founder of Forward Internet Group.
This latest raise takes the London-based business’s total amount of funding to £3m, after it also bagged £1.15m via a crowdfunding campaign on Crowdcube – where it exceeded its target in less than 24 hours.
Attempting to bridge the gap between developers and the classroom, the online platform has a collection of education apps, from multiple developers, which is accessible for a single subscription.
It currently has 80,000 teachers from 110 countries and a million students currently using its service.
Founded by Charles Wiles in 2014, the former Google product manager and single father was inspired to ‘start-up’ after trying to help his recently bereaved son enjoy school.
Now valued at £4.5m, the scale-up will use the funds to aid international expansion, with the global edtech industry set to be worth $252bn by 2020
“Driving engagement and love for core disciplines at an early stage is not only crucial to the mastery of such subjects but is also necessary to producing the next generation of teachers, engineers, mathematicians and scientists that will power the innovation of tomorrow.
We are pioneering edtech to curtail the critical teacher decline, address the disengagement problem, democratise quality education and ‘solve’ the funding conundrum.”
Alan Maguire, partner at Leaf Investments, said:
“We’re looking for two things in our investments: one is learning outcomes and efficacy, and the other is technology that brings real efficiency to the education environment, and that’s what a lot of edtech companies miss.
“Zzish brings in a perfect combination of the two. It has the right motivation to have an impact on people, and brings a brilliant team with a very strong business focus and massive ambition.”
Does edtech sound like the start-up idea for you? Read here why we chose it as one of the best business ideas for 2017.