Kazakh Ed-Tech startup CodiPlay has successfully raised $2mn in its recent seed funding round, Astana Times reports.
CodiPlay specializes in teaching children programming skills and creating gadgets (IoT projects) based on arcade games. The seed round attracted considerable interest from investors, with the Tumar Venture Fund, a Kazakh private venture fund managed by White Hill Capital, contributing $1.5mn. Additionally, the fund invested $500,000 into the startup's overall development. Following the two-month funding round, CodiPlay's valuation reached $10mn.
Zhanadil Taldybayev, the CEO of CodiPlay, expressed gratitude for the trust shown by business angels and the venture fund, highlighting how their support has facilitated the rapid growth and scaling of the startup.
“Investors have recognized our significant social impact and contribution to IT education in our country and our commitment to increasing technical literacy among children in Kazakhstan” he stated.
Having achieved its expected investment target, CodiPlay plans to expand the reach of its learning platform through the implementation of unique technological solutions. By September, the platform is set to be utilized in more than 120 schools across Kazakhstan, with plans for global expansion already underway. Some schools in South Korea are already using the platform, while schools in the United Arab Emirates and Türkiye are preparing to introduce it in a test mode. Additionally, the startup sees potential in the Commonwealth of Independent States (CIS) due to the similarities in educational systems with Kazakhstan.
Taldybayev explained that CodiPlay's gamified learning process transforms coding into an enjoyable game.
“Our gamified learning process turns coding into a game, and our mission is to give every student in Kazakhstan access to programming languages that will prepare them for a drastically different future,” Taldybayev emphasized.
In addition to its mobile app, CodiPlay has also developed CodiKit kits, which include components and prototypes for creating 30 IoT projects ranging from traffic lights to smart home systems.
The Tumar Venture Fund, managed by White Hill Capital, is the largest venture fund in Kazakhstan, aiming to invest up to $50mn. It was established as part of the Fostering Productive Innovation Project, which is implemented by the Kazakh Ministry of Digital Development, Innovation, and Aerospace Industry and funded by the World Bank. White Hill Capital specializes in supporting and developing IT companies during their early stages, making it the management company for the fund.
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