Edvive receives $50,000 as pre-seed investment
Edvive is currently working with a multiverse of language learning apps to help learn a language in the most efficient way
The conversational peer-to-peer language learning platform, Edvive has received a $50,000 investment in its pre-seed round.
The investment was led by four Bangladeshi technology investors having a collective experience of 20 years.
The edtech company had also received $300,000 of in-kind support from Microsoft and Google for startups earlier. The company is also a recipient of the Bangladesh government's IDEA project grant.
Founded in 2020, Edvive has served 29,000 students and collaborated with several prominent organizations including British Council, IDP, and Education USA.
Its founder Mohidul Alam is a young student who finished high school and is aspiring to study at New York University, Abu Dhabi.
Edvive is currently working with a multiverse of language learning apps to help learn a language in the most efficient way, currently developing an on-demand conversational platform for practising English speaking online in the peer-to-peer method.
The platform connects users with speaking partners and mentors at an affordable subscription rate (monthly basis) and users can take free demo classes and decide before enrollment.
Providing an experience akin to gaming, coupled with interactive sessions in a peer-to-peer method, with teammates and a guiding mentor, the platform also says they provide resourceful learning materials, guided practice and a personalized learning dashboard to track progress in learning the language while ensuring purpose-driven learning for all.
With the investment, Edvive is planning to develop its apps, acquire sizable global users and hire an amazing talent pool.
Education technology companies have seen accelerated growth and equally increased attention from investors across markets over the last few years. The pandemic has taken that to a completely new level.
In India, several large players exist in the vertical, including Byju's, and the vertical is well known for attracting large investments.
Although some of that excitement about edtech is in decline across markets, Bangladesh remains in a very early stage of the market to be affected by that global sentiment, according to industry insiders.