Belarus-based startup EduDo closes $300k funding round led by Ukrainian Adventures Lab
The Belarusian startup EduDo has raised a $300,000 round led by the Ukrainian investment firm Adventures Lab. The round also involved participation from the Cyprys-based company Embria which is focused on creating startups and investing in perspective startups in AdTech, FinTech, games, and wellness industries, and business angel Dmitry Vasilyev (investor in HyperAuditor and NordicBlocks), as the VC firm told AIN.UA.
About the service
EduDo is a mobile learning platform with short, interactive educational videos similar to TikTok videos and Instagram Stories. It is aimed at users aged 12-30.
Videos for the app are generated by the users. The video feed is similar to the feed on TikTok. All tutorial videos are divided into short blocks of 2 to 20 seconds, during which the creator of the video presents a single idea. One video is no more than 3 minutes long. After each video, the user is offered to take a quiz to memorize the information from the video.
A Belarusian team is working on the service. Some of them, for example, CEO Yury Shlaganov, have already moved to Ukraine because of the political situation in Belarus. The CEO of the project worked for Flint Capital investment company for almost four years. Maks Kurpa, the CTO of EduDo, managed mobile development teams for seven years and launched five mobile applications (iOS / Android) and three applications for Mac devices. Ora Gittsovich, Chief Creative Officer, has eight years of experience in marketing, advertising, and PR.
What will the money be used for?
The startup will spend the funds raised on improving the platform itself, adding new features and tools for content creators. Part of the round will go toward the product testing, marketing, and other hypotheses. The team also plans to develop content monetization tools.
The investment company Adventures Lab has been working in the Ukrainian market since late 2019. The average investment ticket size is from $300,000 (on pre-seed stage) to $500,000 (on seed stage), but the amount may increase if partner investors participate in the round.