LingoTalk is an Indonesian startup that was founded in 2020 and is currently based in Jakarta. The company makes its money through the provision of a platform that allows people to learn languages remotely. This helps the students to learn, no matter where they are, as long as they have an internet connection.
The business has gone through four rounds of funding and in these funding rounds, the company has secured the support of two investors. These investors have allowed the company to cumulatively raise $500,000.
The language education platform has also launched LingoJunior, a new product for the children’s segment (curriculum certified by Education Alliance Finland) as well as a Learning Management System, and the LingoParents feature to help parents monitor their children’s learning progress.
“One of the most important lessons we learned from SSI was the strategy to achieve product-market fit (PMF) and maximize company resources in this area. Currently, our PMF is on the LingoJunior product, which targets Kindergarten and elementary school students with a five percent growth in acquisition rate per week. Throughout 2022, we also aim to increase collaboration with 59 percent of the total elementary schools in Indonesia to build foreign language abilities from an early age, in order to produce talent equipped to compete on the global stage,” said Andre Benito, CEO of LingoTalk.
An edtechpreneur in the making with experiences in e-commerce and tech startups. Passionate in education, technology, and language learning. Building lingotalk.co to shape Indonesian education with efficient learning through technology and redefine the language instruction in Indonesia.
The EdTech and smart classroom market in APAC is expected to grow from US$ 17,692.4 million in 2019 to US$ 64,353.4 million by 2027; it is estimated to grow at a CAGR of 17.5% from 2020 to 2027.
Asia Pacific (APAC) is expected to be the fastest-growing market for EdTech and smart classroom products during the forecast period. The high focus on education and rising youth population in countries, huge demand for smart and connected devices among students, and growing number of EdTech startups are a few of the factors driving the procurement of education technology solutions in this region. China and India are among the leading countries in terms of EdTech startups and investments since past 3-4 years, with China being a leader in terms of EdTech investments. In India, BYJU raised historical investment of US$ 540 million in 2018. Several key EdTech companies in China and India, with the valuation of ≥US$ 1 billion, include VIPKid (US$ 4.5 billion), Yuanfudao (US$ 7.8 billion), Zuoyebang (US$ 6.5 billion), Knowbox (US$ 1 billion), iTutorGroup (US$ 1 billion), 17zuoye (US$ 1 billion), HuJiang (US$ 1 billion), ByJu’s (US$ 10 billion), and Unacademy (US$ 1.4 billion). Moreover, K-12, higher education, lifelong learning, corporate learning, and early childhood education institutes are receiving impressive investments. The growing popularity of e-learning/digital learning solutions, coupled with rising trend of digitalization in the education sector of all the major Asian and Southeast Asian countries is boosting the growth opportunities for the market players operating in the APAC EdTech and smart classroom market.
Southeast Asia‘s population is over 650m people, 200m+ of whom are under the age of 30. While the region has prospered over the past two decades with a “manufacture for export” strategy, support for digital is now critical to Asia’s continued development and education is key to capacity building in the region. “We need to invest more in education and encourage the development of more valuable skill sets, critical thinking and life-long learning if we are to succeed in this new (digital) economy,” notes ASEAN.
LingoTalk Secures Pre-Seed Funding from Singapore-based Kistech
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