Edukoya, a Nigerian edtech startup, has officially shut down after nearly three years of operation, citing infrastructure limitations and economic challenges that impeded scalability.
Founded in 2021 by Honey Ogundeyi, Edukoya aimed to transform online learning for K-12 students across Africa by providing digital educational content and real-time tutoring services.
The platform gained traction, amassing over 80,000 students, facilitating more than 15 million answered questions, and hosting thousands of live classes.
Despite securing a record $3.5 million in pre-seed funding in 2021, the company struggled with poor internet access, high device costs, and low disposable incomes among its target users. These factors prevented widespread adoption, ultimately leading to the decision to wind down operations and return the remaining capital to investors.
Before shutting down, Edukoya explored alternatives, including partnerships, mergers, and business model pivots, but none proved viable. The company determined that the market was not yet ready for its offerings, opting to close rather than continue investing resources in an unsupportive environment.
Edukoya’s closure highlights the broader difficulties faced by edtech startups in Africa, where infrastructural gaps and affordability constraints remain significant barriers to growth. While the demand for digital education continues to rise, sustainable scalability remains a formidable challenge in the region’s evolving tech landscape.
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