AltSchool Africa, the Nigerian edutech focused on providing tech skills for individuals looking to start a career in tech, has secured $3 million in an equity crowdfunding round in April 2023. The round was led by the VC firms Angaza capital and Techstars.
AltSchool is to receive financial aid from the Rwandan $30 million tech fund with Angaza Capital, a venture capital firm that takes care of the innovation funds in Rwanda. This aid has been approved by the African Development Bank Group to promote development and innovations in East Africa.
Since its launch, AltSchool has received immense support from the East African country. In a post on his X handle, AltSchool CEO, Adewale Yusuf, expressed gratitude stating “The Rwandan government has been super helpful to our success since we entered the market and we’re grateful for their support”.
In 2022, AltSchool announced its procurement of $1 million pre-seed in a funding round. The round was led by Flutterwave founder, Olugbenga GB Agboola; Nigerian entertainer Folarin Falana (Falz); Akitkye Balogun(Ajebutter); CEO Paystack, Shola Akinlade, ODBA VC; Nestcoin and Pledges as investors.
AltSchool has made major achievements aside from the funds acquired like its expansion from having only software engineering courses to Business school, school of data and school of products amongst others. And last year, it opened a branch in Rwanda with a total number of 4 employees at the moment.
Prominent personalities from the platform of African creators such as Nonso Egemba(Aproko Doctor), Adebowe Adedayo(Mr Macaroni), Oladotun Ojuolape Kayode have been enlisted as facilitators to support AltShools expansion.
Enugu state government also partnered with Altschool to equip the youths in the state with the skill-to-market platform and to also promote their involvement in the tech space.