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After three years of operation, Nigerian education technology startup Edukoya has ceased operations, citing infrastructure limitations and economic challenges that hindered its ability to scale.

The startup, which secured Africa’s largest pre-seed funding of $3.5 million in 2021, announced that it will return capital to investors rather than continue operating in what it described as an unsustainable market environment.

In a statement obtained by PUNCH Online on Wednesday, Edukoya acknowledged its early success but highlighted significant adoption barriers. These included limited internet access, high device costs, and declining disposable incomes, all of which restricted its target audience’s ability to pay for digital education services.

Launched with the goal of transforming digital learning for K-12 (primary and secondary) students, Edukoya rapidly gained traction, onboarding over 80,000 students, facilitating millions of practice questions, and conducting thousands of live tutoring sessions.

Despite exploring various strategic alternatives—such as partnerships, mergers, and business model adjustments—the company ultimately found no viable path forward.

The statement read in part:

“Having assessed multiple options to sustain operations, including partnerships, mergers, and business model shifts, we have made the difficult decision to shut down and return capital to investors rather than deplete resources in an unsupportive market.

“While startup culture often emphasizes persistence at all costs, this strategic decision allows us to create better outcomes for all stakeholders—investors can redeploy their capital, our team can transition with dignity, and we uphold our vision’s integrity rather than compromising to survive.”

Edukoya’s closure reflects the broader challenges faced by Africa’s edtech sector, where startups must navigate the delicate balance between innovation and real-world constraints such as infrastructure deficits and affordability barriers.

While digital learning remains a high-potential market, achieving large-scale adoption continues to be an uphill battle.

Edukoya expressed gratitude to its team, parents, students, and investors, emphasizing that while its journey has come to an end, the insights gained could pave the way for future innovations in African edtech—when market conditions become more favorable.