Photo - EduVOD Africa Limited
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EduVOD Africa Limited

Education Data business for learners and educators

Kenya
Market: Education, training, Artificial Intelligence
Stage of the project: Operating business

Date of last change: 12.10.2020
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Idea

EduVOD is an African EdTech opportunity offering Education Outcomes targeting the approximately 660 Million learners in Africa with a mission to control 30% of this market in the next 10 years. EduVOD distributes its products/services through various channels including EduVOD EMIS, EduVOD Virtual Schools, EduVOD Home, EduVOD Schools, SNE (Special Needs Education) and EduVOD E-commerce.

Current Status

EduVOD currently has 120 schools with 36k learners as of September 2020 and is projecting to have a total 700 schools with 210k learners by December 2020 on the EduVOD Virtual Schools' product/service at USD 4 dollars a month charge.

Market

EduVOD’s focus is K-12 education in Africa.

Problem or Opportunity

Throughout Africa, Education data statistics has become a major contributing factor for lack of planning for education stakeholders. The company is targeting to provide diversified education outcomes to learners through a spectrum of resources. The opportunity lies in the an approximately 660 Million learners' addressable market in the 54 African Countries with a target to control at least 30% of the market in 10 yrs.

Solution (product or service)

EduVOD offers its platform through various channels. These are not products in their own right but different means to offer the platform. They include EduVOD EMIS (Education Management Information System), EduVOD Schools (an offline product/Service), EduVOD Virtual Schools (An Online Product/Service), EduVOD Home, EduVOD e-commerce and EduVOD Data & Analytics/Machine Learning.

Competitors

EduVOD does not have a direct full-scale competitor by virtue of it being a platform. It however has other players in the education technology sector offering various products. They include but not limited to; ADvTech, O’Genius Priority, HITCH, AkooBooks Audio, Eneza Education, iCog Labs, etc.

Advantages or differentiators

EduVOD offers a completely seamless education platform including online and offline access, content distribution, ERP & CRM, Data & Analytics with AI, E-commerce,E-Bookshop, E-library and EMIS among others, while the competitors offer only a part of this solutions to the target market if not one. Unlike other Education technology providers, it has encompassed all the schools needs on ne seamless platform.

Finance

EduVOD forecasts USD 568k 2020 revenues driven by the 40,000 learners signed up in September 2020 and USD 102M revenues in 2024 driven by a 1.8M user base at an average USD 4.5 pricing per learner per month.

The cost structure includes the operating expenses and system enhancement investments

The gross costs are mainly for license payments. For cost efficient and cashflow effectiveness, the contracts have been negotiated on a cost incurrence per user basis resulting in reduced significant upfront costs for EduVOD. The administrative costs relate to staff costs, operating expenses and rent.

Business model

EduVOD offers its platform through various channels. These are not products in their own right but different means to offer the platform. They include EduVOD EMIS (Education Management Information System), EduVOD Schools (an offline product/Service), EduVOD Virtual Schools (An Online Product/Service), EduVOD Home, EduVOD e-commerce and EduVOD Data & Analytics/Machine Learning.

Money will be spent on

EduVOD is seeking USD 0.5M to finance working capital to provide a one-year runway adequate to finance it for the next 12 months as management focuses on roll out of the more than 3,000 schools (2M students) in the period.
EduVOD is seeking USD 1.5 Million to enhance its technology offering ensuring it can offer a more robust product including data analytics, machine learning and ecommerce.
With the planned EduVOD schools roll out, EduVOD is seeking USD 10 Million structured trade finance to supplement the ABSA opportunity to finance schools' acquisitions of equipment for offline product rollout.

Offer for investor

(In Equity & Structured Transactions Funding) in the African business with an estimated 15x TMB on the Equity/Quasi Equity in 3 years.

Team or Management

Risks

Execution- EduVOD has signed SLA’s with suppliers,EduVOD is developing a Customer Relationship Management and setting up a contact center to manage the various stakeholders, EduVOD works with strong and established suppliers to mitigate execution risk on their end.

Technology Risk- Ensure proper contracting, maintenance, warranties, and third-party insurance.

Market Risk- Continuous engagement with stakeholders and teachers to ensure full understanding, enhance teacher trainings.

Funding- The business is now post revenue and actively fundraising with a foreseen Series A close in 3-6 months.





Incubation/Acceleration programs accomplishment

N/A

Won the competition and other awards

N/A

Invention/Patent

- Microsoft Authorized Education Partner
- Satellite Content Distribution & Management Software
- IDEA Digital Education & Content
- EduVOD Schools Software Licenses
- EduVOD Virtual Schools Software Licenses
- ESA Online Software License
- EduVOD EMIS Platform License
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video