Local startup Zookal raises $600k for expansion

Zookal.com, Asia-Pacific’s fastest growing education website, has attracted AU$600,000 (US$550,000) in its latest investment round, led by former chief financial officer of US student hub Chegg, Omer Regev, currently the CFO of Gemini Israel Venture Funds, and Silicon Valley’s Filtro Investments. This round brings total investment in the company to $2.1 million, and at a higher valuation than previous rounds.

Zookal began in 2011 as a textbook rental platform, founded by a group of university students who saw a gap in the market for more affordable access to educational resources. The company has since expanded to provide digital textbooks, digital course notes, online tutoring and internship opportunities.

“The funds will help Zookal build on its foundation. We will look to acquire early stage technology startups in Australia and invest in infrastructure and technology companies in the education space,” said Ahmed Haider, Zookal chief executive.

“Investment funds will also go towards Zookal’s expansion into Asia to provide an alternative to the high price of textbooks and to counter the prevalence of photocopying.”

Zookal is focusing its expansion on densely populated English-speaking areas in South East Asia. It has already established a joint venture with partners in Singapore and Malaysia, with plans to enter the larger, more lucrative Indonesian market next year.

The company has capitalised on Australia’s $466 million textbook market for its initial growth and is looking for a slice of Asia’s $12 billion sector. The company seeks additional funding to develop new services and scale its platform globally and will be meeting with investors in the USA later this month.

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About Zookal

Zookal.com is the largest student portal in Australia providing a variety of services that make students’ lives easier.  It’s largest service offering is Textbook Rentals that provides a faster, easier and cheaper alternative to what is available, disrupting the current textbook market.

Zookal solves one of the biggest pain points for budget-conscious students by providing access to textbooks at a fraction of the price they are currently accessing them for, in the Australian market. Zookal also provides a digital notes platform and internship programs for international students.

For more information visit: http://www.zookal.com/