Explico, a Singapore based edtech startup, announced Wednesday that it has successfully secured $1.4 million in pre-series A funding.
Key investors include Astonic Ventures Singapore, MAVIS TUTORIAL CENTRE, which is one of the largest local tuition centres and Singapore Asia Publishers, the well-known publishing house and a few angel investors, Explico said in a statement.
With this fresh funding, Explico plans to create a more comprehensive learning platform for students and commence growth expansion starting with SouthEast Asia, specifically to Vietnam and Philippines, and Africa.
“The value of the global edtech market was $106.46 billion in 2021, and projected to grow annually by 16.5 percent, 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 Philippines in the first quarter of 2023,” said Sandesh Shetty, Chief Operating Officer and Co-Founder.
Founded in 2020, Explico focuses on assessment using Artificial Intelligence (AI) and machine learning to help students identify their specific and respective strengths and weaknesses in order to design a unique learning modular based on their individual needs.
The firm’s advisory team includes former Permanent Secretary of Ministry of Education, Er Kwong Wah and the Founder of AsknLearn, Yee Jenn Jong.
Explico is also part of Microsoft for Startup Founders Hub, which enables them to connect to education sectors across the globe through their networking channels.
“We aspire to introduce and implement the most robust assessment based educational system in Singapore,
“Our sessions are customized 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 Ashutosh Shukla, Chief Executive Officer and Founder of Explico.
The foundation in which Explico is built on is assessment before recommendation.
The firm is able to generate assessment tasks, find appropriate peers for study groups, and provide transparent adaptive feedback using artificial intelligence (AI) technology.
Explico uses these AI techniques that adjust the task to the student’s abilities, giving them tailored assessment experiences, therefore being able to produce a learning method that is suitable according to each of their capabilities.
Explico is fully equipped with an academic faculty of experienced educators and mentors in English, Science and Mathematics and collaborates with various institutions in Singapore and internationally which allows for students to have the opportunity to access worldwide education from a young age.
The platform offers regular online classes/events, challenging sessions and assessments, formative student analysis, and insightful institution analysis with the vision of shifting traditional learning towards a more blended learning educational platform.
On top of that, Explico also has a subsidised bursary program for children from low-income families, currently only available for Singaporean citizens.
