Explico, a Singapore-based edtech startup, has secured US$1.4 million in pre-series A funding from Astonic Ventures Singapore, Mavis Tutorial Centre, and Singapore Asia Publishers.
The company plans to use the investment to enhance its learning platform and expand in Southeast Asia, specifically Vietnam and the Philippines, as well as Africa.
Founded in 2020 by Ashutosh Shukla and Sandesh Shetty, Explico focuses on assessment using artificial intelligence and machine learning to help students identify their specific strengths and weaknesses to design a unique learning modular based on their individual needs.
The startup uses AI technology to generate assessment tasks, find appropriate peers for study groups, and provide transparent adaptive feedback.
Explico’s platform offers regular online classes/events, challenging sessions and assessments, formative student analysis, and insightful institution analysis.
Explico also has a subsidised bursary programme for children from low-income families, currently only available for Singaporean citizens. The edutech firm has an academic faculty of experienced educators and mentors in English, Science, and Mathematics.
It collaborates with various institutions in Singapore and internationally to allow students to access worldwide education from a young age.
“The value of the global edtech market was $106.46 billion in 2021 and is projected to grow annually by 16.5%, up to $404 billion in 2025. With English as one of the primary languages spoken in Southeast Asia and Africa, we look forward to scaling Explico in those regions, beginning with growth expansion plans to Vietnam and the Philippines in Q1 2023,” said COO Shetty.
Explico is part of Microsoft for Startup Founders Hub, which enables them to connect to education sectors across the globe through their networking channels.
With this investment, Explico aims to revolutionise traditional learning by shifting towards a more blended learning educational platform that is customised to suit the needs of individual students.
“We aspire to introduce and implement the most robust assessment-based educational system in Singapore. Our sessions are customised to suit the needs of individual students as we have a team of experienced tutors and educators in their respective fields who would be able to properly guide, mentor and educate the students and create a module that is suitable based on their assessment needs for them to excel,” said CEO Shukla.
Explico’s focus on individualised learning has the potential to revolutionise the edutech industry by providing a more personalised learning experience for students, allowing them to identify their strengths and weaknesses and build on them accordingly.