MTS Venture Fund has signed a binding agreement on investing 73 million rubles in the educational online platform Academy of Changes.
The international TMT investments Venture Fund led the round. The total amount of funds raised within the framework amounted to 242.35 million rubles. The funds raised will develop the product line and to begin international expansion into the markets of Latin America and Southeast Asia.
Academy of Changes is an educational service that provides webinars and online courses on nutrition, style, makeup, psychology and other lifestyle topics. Now users have access to 50 online courses, the audience of the platform is over 500 thousand people.
“The EdTech market in Russia is growing by 20-25% per year. The lifestyle direction is showing even more impressive rates. The Academy of Changes is a technological startup at the intersection of education and entertainment with a formed paying audience throughout Russia that uses technologies to personalize sales and form an individual educational path for users. MTS is investing in a project that has everything necessary to grow its market share, as well as is of value to ecosystem,” said Islam Midov, head of the MTS Venture Fund.
“We are glad that strong Russian and international foundations have joined us. I am confident that together we will build the largest lifestyle education company not only in Russia, but all over the world,” commented Vitaly Krylov, founder and CEO of Academy of Changes.