Singapore-based edtech startup Geniebook has raised S$1.5 million ($1.1 million) in a pre-Series A funding round led by multi-asset investment firm Apricot Capital, according to a statement.
The capital raised will be used to expand and strengthen Geniebook’s data science and curriculum teams to improve its learning platform and for research and development purposes.
Established in 2016 by Alicia Cheong and Neo Zhizhong, Geniebook is an online platform that claims to offer students personalised lessons that specifically target their weaknesses.
“With the evolving education landscape in Singapore, the EdTech industry has been growing alongside this change in order to provide students with a better learning experience. Apricot Capital is delighted to support change-makers and innovative EdTech platforms such as Geniebook,” said Apricot Capital managing partner Darren Teo.
“We are looking forward to supporting their journey in making learning more accessible for every child and together, help shape and elevate the EdTech industry in Singapore,” he added.
Founded in February 2017 by David Teo and family, Apricot Capital is a diversified, multi-asset private investment company with business interests in real estate, oil and gas, consumer products and education.
Given the Singapore government’s push for digitization, many companies are turning to tech improve the lives of citizens of the city-state, and the education sector is no different.
Recently, Singapore-based edtech startup Cialfo raised $3 million in Series A funding led by DLF Venture. SEEDS Capital, YK Capital and various angel investors also joined the round.