Zydii, a Kenyan edtech platform, becomes the second African company to be a part of the Dutch investor Dob Equity portfolio this year. Zydii has recently secured a substantial quantity of pre-seed funding, the precise figure of which is currently unknown. This exciting development was formally announced on May 17, attracting global investor interest. The funds obtained will facilitate the company’s expansion.
Dob Equity, a renowned Dutch private equity firm, took the lead among the four notable participants in this fundraising initiative. Kua Ventures, a prominent Kenyan investor, and Kaleo Ventures, an African-focused venture capital firm, accompanied them. In addition, the Nairobi Business Angel Network (NaiBAN), a group of angel investors and Kenyan entrepreneurs, joined forces to support Zydii’s vision.
Zydii was co-founded by the visionary computer scientist Joyce Mbaya, who intends to use the newly acquired funding to extend its operations to Nigeria and South Africa.
According to Mbaya, the ultimate objective of this strategic manoeuvre is to reconcile the prevalent skills divide in the African labour market and enhance the competencies of the active workforce.
Small and medium-sized enterprises (SMEs) comprise nearly 80% of the workforce in both formal and informal sectors across the African continent. However, these businesses frequently struggle due to a paucity of qualified personnel, which hinders their development and decreases their operational efficiency.
Zydii aims to bridge this skill gap, as it directly addresses this pressing issue. It provides employees with essential technical and interpersonal skills, creating a significant impact on the African labour market, thereby empowering businesses and nurturing economic growth.
For Dob Equity, “This investment in Zydii is not only their second venture in Africa since the start of 2023, but also their second investment in a Kenyan company. Dob Equity is proud to announce that women-led businesses now comprise a substantial portion of their portfolio, demonstrating their dedication to empowering women-led businesses.”
Zydii embarks on a transformative voyage with the backing of strategic investors and a clear vision, not only transforming training methodologies but also reshaping the landscape of opportunities for individuals and businesses. Zydii serves as a beacon of optimism, leading the charge towards a more competent and prosperous Africa as they move forward.
Quick Glimpse at the company and round details:
About: Zydii is a Kenyan platform offering companies and their employees technical and soft skills training services. This workforce upskilling portal provides Africa with accessible, transformative digital training.
Founder: Joyce Mbaya, Mutwiri Kiogora, Rhoda Kingori
Headquartered In: Nairobi, Kenya
Founded In: 2017
Investors: Dob Equity, Kua Ventures, Kaleo Ventures, Nairobi Business Angel Network (NaiBAN)
Announcement Date: 17 May 2023