South West | Finance, business | Technology & innovation
Russian tech investor backs promising edtech service
12 Aug '20
Dmitry Voloshin, a Russian tech entrepreneur who founded the successful edtech service Otus.ru, has recently supported another domestic edtech project called Examis at a pre-money valuation of $820,000, Rusbase reported. Mr. Voloshin now owns a 10% stake in the company.
“The project offers training for the Unified State Exam [USE, which is mandatory in Russia for a range of basic disciplines and is based on the multiple choice approach—editor’s note]; but unlike many competitors in the market, it does that in a “language” schoolchildren understand. The tutors are those who once passed the USE with a 100% result, and they work to step up a trainee’s motivation and zeal for a discipline rather than just coach him or her for a specific exam,” Mr. Voloshin explained.
The entrepreneur believes investments in such projects are potentially rewarding in Russia’s education market. “I expect a perceptible increase in parents’ demand for this way of training kids,” he said.
Examis wants to use the money to scale up sales. Set up three years ago in Rostov-on-Don, in Russia’s South, the start-up has spent this past year testing its flagship solutions and marketing strategies and, according to Mr. Voloshin, is now ready for scaling-up.