edudo secures investment funding rounds from venture capital specialist Midven.
the Exceed Fund, which includes LDC, the Department for Business Innovation and Skills and the European Regional Development Fund as investors, has provided growth backing totalling more than £500,000 for the two businesses.
edudo is a specialist vocational learning provider to the UK government and industry, and Edududes, based in the same area, specialises in the development of apps to assist work-based learning providers.
since its foundation in 2011, Edudo has enjoyed significant and early market growth, building out a national footprint in the delivery of vocational qualifications. To date, Edudo has already formally qualified and certificated more than 1,000 individuals.
the equity funds invested through Midven are intended to further accelerate the development and expansion of the company, which operates three divisions aimed at addressing different aspects of the vocational education sector for learners of all ages.
sister company Edududes was established in 2012 and has to date developer a range of online tools for end users, their employers and learning providers.
the two businesses are aiming to expand into the West Midlands in the near future.
ronan smith, founder and managing partner of both companies, said the two businesses were ready for rapid growth and Midven's investment would help move them onto the next level.
birmingham-headquartered Midven manages five funds representing £61m under management. The £18.4m Exceed Fund was established in December 2009 to invest in high-growth businesses in the West Midlands.http://www.insidermedia.com/insider/midlands/94534-midvens-exceed-fund-makes-500k-investment/
at edudo, learning is, first and always, about improving life-chances. It's what people do when they want to make sense of the world!
