In an unexpected move, Tekedia Capital has bought Quizac, an edtech startup scheduled to close this month. Either party did not disclose the acquisition cost.
Tade Samson said quick purchase talks led to a transaction in just a week.
Founded in 2019 by Tade Samson, Tobi Awogbemi, Hussein Alayo, and Babatunde Caleb, Quizac provides gamified learning content for African students via a network of contributors. In 2021, it expanded to corporate learning programs.
After enrolling over 13,000 students, monetisation proved difficult, and it closed after realising corporate users were more profitable.
Read also: Topset, Genti, others to exhibit at Ibadan’s biggest EdTech Festival
Tekedia Capital Integrates Quizac for Enhanced Gamified Learning
Startups, including OurPass, Mecho Autotech, and Verily, are part of sector-agnostic Tekedia Capital. Other training programs include the Tekedia Mini MBA. Acquiring Quizac lets it add gamified learning.
Tekedia Capital staff stated that they will bake Quizac technology into the core engine of Tekedia, offering learners an immersive experience so that the pursuit of entrepreneurial capitalism and the mastering of fixing market frictions within the pillars of people, process, and tools powered by knowledge, capital, and risk-taking will be gamified.
After the acquisition, Quizac’s founders will leave, but the crew will stay to help.
According to a reporter, he said that Quizac sees this as a new beginning, even if all beautiful things must end. He added that he’s happy to say Tekedia Capital bought Quizac. In addition to fulfilling its objective, Quizac will expand into new markets and help transform learning outside Africa with this acquisition.
Quizac will integrate smoothly into Tekedia Capital’s ecosystem and access its vast data assets and resources.
About Tekedia Capital and Quizac
Tekedia Capital offers a speciality investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organisations to co-invest in innovative startups and young companies in Africa
Capital from these investing entities is pooled together and then invested in a specific company or company.
Our focus is on companies with primary operations in Africa, even though they may be legally domiciled within or outside Africa.
Quizac is an edtech platform using multiplayer gaming around subject topics to create motivation and improve learning engagement to boost academic success.
Quizac is a Nigerian web and mobile application that helps learners learn different subjects through games. Quizac learns from each game to determine when and which content needs more attention.
As more games are played, Quizac helps curate topic mastery percentages to meet every learning goal. Quizac charges users to play its online quizzes, but players can recuperate fees by achieving top scores and gaining “gems,” which can be converted into cash rewards or airtime credit.