Indonesia-based edtech startup Cakap snags $10m in a Series B funding round
The company creates online learning programmes for customers to learn languages and occupational skills, facilitating interactions through video conferences and text dialogues. It has a total of 1,000 teachers on the platform. Cakap, an Indonesian education technology platform, has secured $10 million in funding led by Heritas Capital and MDI Ventures’ Centauri Fund as more people in Southeast Asia resort to digital sites for education when schools close due to the pandemic. Cakap claims to have 1.5 million students on its platform and claims to be profitable. The edtech platform also stated that active students have increased by 500% year over year, however, it did not provide the numbers. The new funding will be utilised to develop the company’s technology, which will include machine learning and artificial intelligence, in order to deliver localised and personalised learning to help students progress faster.