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Local edtech startup secures R45-million
The Student Hub, a South African edtech that provides online courses in a range of in-demand skills to assist in bridging the gap between employability and education amongst South Africans, has secured a reported R45-million in funding from Naspers.
The Student Hub, a local edtech startup secures $2.9million*
In an official press release, Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers, the investment into Student Hub and how it contributes to economic growth.
“The work of Naspers Foundry is one of the key focus areas of our business in South Africa. We believe tech companies have the potential to be the cornerstone of South Africa’s economic growth and we want to play a role in unlocking that potential. Our investment in The Student Hub is an example of how digitalisation has the potential to address unequal access to education, create local opportunities, and enable increased participation towards a more inclusive economy.”
As one of the largest investment companies in South Africa, Naspers is committed to growing the national tech sector. The latest investment signifies the early-stage tech investment initiative, Naspers Foundry’s fourth investment since its inception in 2019.
Fabian Whate, Head of Naspers Foundry, comments on the early-stage tech startup investment initiative commitment to promoting local innovations that have a positive social impact.
“Over the last 18 months, Naspers Foundry has supported promising, best-in-class early-stage tech businesses run by local entrepreneurs that have significant long-term potential and address societal needs. We are thrilled with our first edtech investment as Naspers Foundry, and we look forward to working with Hertzy and his team at The Student Hub. We continue to execute transactions against a robust pipeline of potential investment opportunities.”
The Student Hub
The Student Hub is an online platform that allows students to access vocational education and decrease the delivery cost of education and training.
Student Hub has partnered with Technical and Vocational Education and Training (TVET) colleges to help deliver online courses especially aimed at students with limited resources and physical infrastructure. The platform connects graduates with work opportunities within their related fields, increasing the employability of their students.
The available TVET course content is hosted online, providing an ease of access to potential students from anywhere across the country, provided the students have access to the internet.
As a developed edtech platform, The Student Hub has integrated unique capabilities onto the website, allowing lecturers and students to track their progress and productivity. This measure allows both the lecturers and students to understand where improvements can be made.
In line with the ethos to bridge the gap between education and employment, The Student Hub has a crowdfunding tool that assists students in financing their studies. Donors are able to track a student’s progress through the online platform. In addition, an integrated skills marketplace connects graduates to entry-level employment opportunities.
Hertzy Kabeya, Founder and CEO of The Student Hub comments on their partnership with Naspers and their goal to increase education accessibility.
“We are delighted to be partnering with Naspers given their deep international experience in the edtech sector. We are a technology company that believes that improving access to education to millions of students across South Africa is at the core of what we do. Linking graduates with the right economic opportunities that relate to their skills are what the economy needs right now.”
*The amount published in $ is accurate to the exchange rate at the time of publication
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Featured image: Avel Chuklanov via Unsplash