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Indonesian EdTech Startup Ruangguru Wins $150m Series C Round

December 26, 2019

Ruangguru, an education tech startup founded by one of Indonesian President Joko Widodo’s “millennial advisors”, has secured a $150 million Series C funding round led by General Atlantic and GGV Capital.

The company, which currently serves 15m students and 300,000 teachers across its home nation, has said it will use its latest cash injection to fuel a scale into nearby Vietnam. Its 2014-founded platform uses summaries, infographics and quizzes alongside other solutions.

“We look forward to leveraging experiences from our global portfolio, particularly in technology-enabled education in emerging markets, to help fuel Ruangguru’s continued expansion,” said Ashish Saboo, managing director and head of General Atlantic Indonesia.

“We expect the partnership would help us accelerate our mission. These firms have a strong track record of partnering with entrepreneurs and scaling sustainable business models in the education and technology sectors,” added Ruangguru co-founder and chief executive Belva Devara.

Devara, 29, was appointed one of President Widodo’s so-called “millennial advisors” last month, as the young leader sought aides aged between 23 and 36 to offer Indonesia’s government fresh, unique ideas. Among the seven young leaders is a deaf activist, SME experts and a religious advocate.

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Filed Under: Asia, Top Story

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