Singapore-based AI-education startup, Cerebry, has announced a $1 million seed funding round to boost the reach of its AI-tutoring product for students and test-prep candidates in Vietnam and other Asian markets.
The investment round was led by Ascend Vietnam Ventures with notable participation from Pentathlon Ventures, among other organisations and individual investors.
With this funding, Cerebry aims to continue the growth of its AI-enabled practice platform and to offer adaptive learning models to millions of students across Asia-Pacific education centres.
Cerebry collaborates with educational institutions, publishers, and other edtech companies to deliver personalised practice assignments. Its platform, constructed using AI technology and machine learning data accumulated over the past few years, ensures that students receive tailored exercises. These exercises, inclusive of solutions, hints, feedback, and customised additional tasks, are designed based on individual student interactions and absorption capabilities.
In 2022, Cerebry saw its revenues increase tenfold, maintaining an impressive near-100 per cent retention rate across varied customer segments. The company counts among its clientele governments in Southeast Asia and MENA regions, publishers, and major educational institutions in India.
While many edtech companies faced challenges retaining customers post-pandemic, Cerebry bucked the trend with increased product usage in schools. Founded by the trio Shubham Goyal, Rahul Singhal, and Rohit Singhal, the platform's inception was Rahul's PhD project at the National University of Singapore.
With Cerebry, the founders sought to address their personal challenges of limited financial access to tutoring services and bespoke learning solutions, especially when preparing for the Indian Institute of Technology entrance exams.
Having started with a focus on middle school mathematics, the edtech startup turned profitable in 2022. With the recent capital injection, Cerebry plans to enhance its offerings by expanding into other subjects such as science, as well as into new markets like Vietnam and Japan.
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