New Capital Injection for Ruangguru

By Editorial Team 19/04/2021
education technology
Summary

Edtech startup Ruangguru received another capital injection from investors. On April 16, 2021, Deal Street Asia reported that Ruangguru bagged US$50 million in funding from a New York-based investment company Tiger Global Management. This new investment raised Ruangguru's valuation to US$800 million, approaching the unicorn level of US$1 billion.

This investment adds to Ruangguru's achievement list in April. Previously, a US-based business media Fast Company ranked Ruangguru as the first Indonesian company to be included in the list of the most innovative companies in the world in 2021. It was ranked 25th in all categories and second in the education category. Ruangguru's name is lined up with the world's top companies such as Moderna, SpaceX, Microsoft, and Nike.

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