Singapore’s edtech startup nets seed funding extension round from Nest Tech

Singapore’s Kalpha announced it has raised a six-figure US dollar amount in seed money in an extension round led by VC firm Nest Tech VN and Singapore angel investors.

The latest investment comes after the edtech firm raised a six-figure amount in a seed funding round from Nest Tech VN last year.

(From left): Kalpha co-founder Jaden Teo, Nest Tech VN founder and managing partner Soe Moe Kyaw Oo,  and Kalpha Vietnam chief marketing officer and co-founder Tri Nguyen / Photo credit: Kalpha

Founded in 2018, Kalpha provides a peer-to-peer (P2P) learning platform that facilitates users’ exchange of knowledge, skills, and experiences. Users can also opt to either meet up in person or virtually through the platform. Course providers can also list their classes, workshops, and seminars on the platform for easier access.

The fresh funds will be used to extend Kalpha’s offerings, roll out new gamification features, and add a question-and-answer forum to strengthen its existing P2P vertical, the company said in a statement.

With operations across Singapore and Vietnam, the startup claims to have had more than 70,000 downloads, over 2,000 listings, and 2,500 completed sessions since its inception.

“Vietnam has huge potential with its 95 million young population, and Kalpha is expected to lead the one-to-one learning space,” said Soe Moe Kyaw Oo, founder and managing partner of Nest Tech VN.

Moving forward, Southeast Asia will be the startup’s key target market, according to Tri Nguyen, chief marketing officer and co-founder at Kalpha Vietnam. He noted that his firm is experiencing a growth in user traction in Ho Chi Minh City, Vietnam, since it was launched there in July 2020.

See also: Indonesian edtech’s biggest challenges

Major edtech players across the region include Indonesia’s Ruangguru, which secured US$150 million in series C funding led by General Atlantic and GGV Capital in December last year, Sequoia Capital India-backed Emeritus in Singapore, and Vietnam’s Topica, which is backed by Openspace Ventures and IDG Capital.