Cyprus-based online higher education platform Unicaf has attracted $28m in a series B round featuring online education platform EdX, EdSurge reported yesterday.
Investment bank Goldman Sachs led the round, which was also backed by investors including university venturing fund University Ventures and CDC Group, a development finance institution owned by the UK government.
Founded in 2012, Unicaf operates an online platform for university-level education that relies on virtual tutoring and digital course materials to offer more than 70 accredited undergraduate and postgraduate programs from partner universities in Europe, the US and Africa.
The company has physical campuses and learning hubs in Zambia, Malawi, Uganda, Kenya, Ghana, Nigeria, Egypt and Somalia.
The series B capital will be used to expand Unicaf’s services with the aim of enrolling more students. University Ventures and CDC had previously joined seed-stage VC vehicle Savannah Fund for Unicaf’s $11.5m round in December 2016, according to Africa Capital Digest.
The original version of this article appeared on our sister site, Global University Venturing.