Cakap, an edtech platform in Indonesia, has raised $10m in a Series B round led by MDI Ventures' Centauri Fund and Heritas Capital, with participation from KB Investment and other undisclosed investors, according to a statement.
Founded in 2014, Cakap offers online language courses for adults and kids in Indonesia, and it also expands offerings into job-specific skills. The company said it has 1.5 million students on its platform, with 500% YoY growth in active students.
With this new funding, Cakap aims to improve its learning technology by exploring the implementation of machine learning and artificial intelligence.
Despite the offline schools starting to come back gradually, the Indonesian government believes that the growth of the Edtech sector will remain strong as hybrid learning is required to complement in-person learning.
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