Friday, December 24, 2021

The Russian online education platform Synchronization, launched by in 2015, has raised $2.25 million, reports business daily Kommersant. The round was led by investment holding Avenir and Rusagro co-owner Maxim Basov. The deal also involved Adfirst VC as well as individual investors Stas Korostelev, Mikhail Tsyferov, Anton Volkov and others.

The platform offers courses in online and offline format, covering such matters as philosophy, art, music, architecture, economics, psychology, history, biology and healthy lifestyle, fashion and design. Synchronization also offers webinars and workshops to develop soft skills — from critical thinking, to the art of speech, to modern etiquette. 

Meanwhile Educate Online, a Russian-founded platform that connects international students to UK, US and Canadian schools that teach online, announced it raised $4 million. The round involved two funds with Russian connections, Xploration Capital and TMT Investments; Ukrainian Flyer One Ventures; LSE-listed Russian IT provider Softline; and Russian angel club Angelsdeck.

As reported by Forbes Russia, Educate Online was created in 2018 by Alexander Zheltov, a graduate of the Bayes London Business School, and Igor Borovikov, the founder of Softline. Previously, Zheltov advised parents of children on admission to rated foreign schools. One of his clients was Borovikov. Zheltov said he and Borovikov also lived next door in Portugal for a long time and “brainstormed together” about developing a business.

Edtech is trendy in Russia. The largest investment deals this year include the acquisition of online education businesses in Russia and Brazil by VK Company; a $50 million capital injection into GetCourse, involving major Russian VC and PE funds; and a $10 million round for online programming school Algorithmics.

Smaller but notable startups having raised funds recently include Academy of ChangesStudyFree and Tizzi. The latter, which describes itself as a sexual wellness and education startup, attracted funding last month from  an undisclosed “international family office.” 

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