Edukoya shuts down, citing market challenges despite $3.5M funding
- Edukoya secured $3.5 million in seed funding in 2021 but has now closed down.
- The founder attributed the shutdown to unfavorable market conditions and infrastructure limitations.
- Edukoya's vision was deemed ahead of its time, facing significant hurdles in scalability.
The closure of Edukoya highlights the urgent need for edtech companies to adapt to changing market demands and infrastructure challenges. Investors and stakeholders must reconsider their strategies and support for traditional K-12 models, as the shift towards adult learning and skill acquisition becomes increasingly prominent. This situation serves as a cautionary tale for emerging startups in the edtech space.
