Another fundraising deal was recently concluded by the Cyprus Business Angels Network, with several of its members investing in a promising Cypriot start-up. Nicosia-based Course Management Platform, Teach ‘n Go, has closed a seed round of funding through CYBAN, for an amount ranging between €200,000 and €400.000, based on specific milestones, led by Cygen Ltd, one of the most active corporate members of CYBAN.
Teach ‘n Go is a cloud-based Course Management System, designed specifically for Professional Education Providers. It combines course management, scheduling, grading, online collaboration with students and payment tracking in a truly simple user-interface, which automates and centralizes the educator’s workflow, meaning education providers spend less time on routine tasks and more time teaching.
Haris Petrasitis, Teach ‘n Go CEO, comments: “Our team founded Teach ‘n Go out of necessity while searching for a better way to manage the courses at our own training centre while collaborating online with our students. Now, after witnessing the huge gap that exists in this market, we have set out to redefine how technology is used in education management and blended learning. Many thanks to Cygen Ltd, our lead investor, and Mr. Alexandros Jacovides, our new board member, who will undoubtedly help Teach ‘n Go succeed in the global market. We’d also like to express our gratitude to CYBAN for coordinating the whole process of raising the funds that will kick-start this exciting journey."
Alexandros Jacovides of Cygen Ltd, the lead business angel, says: “We strongly believe in the potential of young Cypriot entrepreneurs who develop ideas and projects aimed at the global market, not just locally. The founders of Teach ‘n Go have the necessary ingredients that Business Angels are looking for, such as education, passion, dedication, entrepreneurship and the ability to convert their innovative ideas into reality to succeed. It is our conviction that for the Cyprus economy to enter a new era, an ecosystem enabling such Cyprus-based start-ups to succeed has to be developed and supported by organisations such as CYBAN alongside the creation of incentives for Business Angels to invest.”
Andreas Koupparis, CYBAN Chairman, comments: “We met Teach ‘n Go during last year’s Cyprus Entrepreneurship Competition at the University of Cyprus and the team impressed us from the start. The Teach ‘n Go platform will undoubtedly revolutionize the way education, both on-site and online, is delivered and managed. The company is led by an experienced and committed management team that was key in attracting our angel interest in the company. The round was led by a highly experienced lead angel whose contribution to the company through participation on the board will be invaluable.”
For more information visit Teach ‘N Go’s website www.teachngo.com
CYBAN – Cyprus Business Angels Network
CYBAN (Cyprus Business Angels Network) is the first non-profit Cyprus Business Angels Network in the country. The network mainly brings young entrepreneurs and scientists with investment ideas into contact with private investors and private funds in an organised and systematic fashion. CYBAN offers the opportunity for its members to invest mainly in innovative start-up companies, with great potential for international growth, who present their business plans at special Company Presentation Events organised by CYBAN quarterly. Additionally, as a full member of the European Business Angels Network (EBAN), CYBAN offers specialized workshops to its investor members, which include sessions on the evaluation of business plans, participation in the administrative boards of start-ups etc. To this day, more than €2.2 million have been invested in four innovative start-ups, showcasing CYBAN as a powerful tool for tackling the economic crisis. For more information about CYBAN you can visit www.cyban.com.cy
