WEST AFRICA – LAFAAAC, an edutech platform, has landed investment from GreenTec Capital and INCO Ventures which invested through its vehicle Abeille Impact Investing France.
LAFAAAC (The Franco-Anglophone Academy of Arts and Culture) is aimed for creative workers in the film, audiovisual, fashion, music, and publishing industries, as well as all elements of the cultural and creative industries in general.
LAFAAAC will also get GreenTec Venture Building support, which will focus on digital marketing, IT, and organizational support, in addition to funds from INCO Ventures.
The platform is active in France and across the African continent, with a focus on Benin, Cote d’Ivoire, Ghana, Nigeria, and Senegal at the moment. With the launch of an improved version of the platform in February 2022, it hopes to expand into Anglophone areas outside of Nigeria.
The latest investment by Greentec Capital Partners adds to its growing portfolio. The Germany-based VC firm has previously invested in startups such as Sumundi, Coliba, Amitruck, Kwiks, Ecodudu, among others.
Fintech, retail-tech, ecommerce, cleantech, and agritech firms are among the venture capital firm’s investment interests.
LAFAAAC is a training platform for professionals working in the creative and cultural industries, founded in 2019 by Olivier PASCAL.
The platform started out by offering creative professionals new training courses that focused on empowerment and entrepreneurship. The platform uses a blended learning strategy to solve Africans’ lack of access to high-quality education.
The platform provides a variety of courses aimed at developing technical skills, as well as entrepreneurship and business management topics, as well as hard and soft skills for creative professionals.
LAFAAAC currently offers over 100 training courses in six subject areas (audiovisual and cinema, music, fashion, radio, and book editing) and collaborates with over 20 operational partners and schools around Europe and Africa.
The current platform operates on a freemium model, with 10 hours of free material that can be downloaded to a mobile device and accessed without an internet connection.
In 2022, the platform’s features will be enhanced to include a job and CV support service, collaboration and chat spaces, Virtual Classes, as well as an enlarged course library and offers aimed at empowering Africa’s aspiring creative professionals.
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