Ex-Gojek execs’ edtech startup nets seed money from women-focused VC firm, others

Binar Academy, an education tech startup based in Indonesia, has raised an undisclosed sum in a seed funding round led by Teja Ventures, a women-focused venture capital firm headquartered in Singapore.

Binar Academy founder and CEO Alamanda Shantika / Photo credit: Binar Academy

Investors including the Indonesia Women Empowerment Fund, an impact fund jointly managed by Moonshot Ventures and YCAB Ventures, Eduspaze, The Savearth Fund, and members from the Angel Investment Network of Indonesia also participated in the financing round.

Binar Academy plans to use the new funds to develop its technology education offerings and to hire experts in content creation.

Founded in 2017 by former employees of Indonesia super app Gojek, Binar Academy offers courses in information technology via online classes. It also provides a talent placement service for high school graduates, university students, and career shifters.

“The Covid-19 pandemic has driven Indonesia’s education institutions, teachers, students as well as parents to adapt to online learning,” said Alamanda Shantika, founder and CEO of Binar Academy. “However, we still need to innovate the way education is presented to create a more approachable and enjoyable learning experience.”

The company is led by Shantika, who was the first vice president of technology and product at Gojek, along with fellow alumni Dita Aisyah and Seto Lareno.

See also: Indian edtech startup hopes to shake up lifelong learning in Southeast Asia

Binar Academy says it recorded an 80% growth in revenue for 2020 on the back on an increased demand for online classes amid the pandemic. It has provided its services to over 8,000 students through Binar Bootcamp, an intensive course for beginners, and Binar Insight, an interactive webinar series.

Update (April 20, 4:56 pm): This article was corrected to show that the Indonesia Women Empowerment Fund is an impact fund managed by Moonshot Ventures and YCAB Ventures together, and not just by Moonshot Ventures.