Bina Raises $1.4M to Revolutionize EdTech for Kids

The Rise of Edtech in Early Years Education

The COVID-19 pandemic significantly disrupted early years education due to widespread school closures. Consequently, numerous edtech startups have entered this sector. This disruption also brought to light existing deficiencies in early years teaching practices.

Globally, approximately 40 million teachers are leaving the education sector, as reported by the World Bank. Access to high-quality education remains limited for many, with only a fraction of the 1.5 billion primary-age children receiving adequate instruction.

Furthermore, around 58 million primary-age children are currently excluded from education, a disproportionate number of whom are girls.

Bina: A Digital Primary Education Ecosystem

The potential for positive impact through online teaching in these formative years is substantial. Online platforms can facilitate smaller class sizes and enhance the overall quality of instruction.

This principle underpins the development of bina, a platform described as a “digital primary education ecosystem.” The company has recently secured $1.4 million in funding to focus on the education of children aged 4 to 12.

Investment and Advisory Support

The funding round was spearheaded by Taizo Son, a prominent Japanese billionaire. Additional investors and advisors include Jutta Steiner, founder of Parity Technologies – the organization behind the Polkadot protocol – and Lord Jim Knight, a former U.K. Minister of Education.

Key Features of the Bina Platform

Bina differentiates itself through its exceptionally small online class sizes, limited to just six students. This is three times smaller than the average class size recommended by the OECD.

The platform also emphasizes adaptive learning paths aligned with international educational standards. It employs teachers with a minimum of eight years of experience in digital teaching and utilizes data-driven insights to inform its pedagogical methods.

Vision and Future Plans

According to Noam Gerstein, CEO and founder of bina, extensive research involving students, teachers, and parents globally has revealed the need for a new systemic approach to education.

“We are dedicated to creating a world where every child has access to quality education, educators are valued and continuously develop their skills, and parents are not forced to compromise between their careers and family responsibilities,” Gerstein stated.

Bina also uniquely offers pupils company shares (RSUs) as they progress through their education. Currently, the bina School is available to English-speaking students within the CET time zone.

The company is also developing a SaaS product intended for use by governments, NGOs, and school systems.

Competitive Landscape and Strategy

“Our current competitors include companies such as Outschool, Pearson’s online Academy, Primer, and Prisma,” Gerstein explained. “However, our strategy is structured around two distinct phases.”

The initial phase involves operating a ‘lab’ school to refine and test the platform. The second phase, termed ‘bina as a service,’ will offer a SaaS ‘school as a service’ model.

This will involve collaboration with NGOs and governments, providing accreditation, training, and licensing of the product. In this second phase, bina will compete with established accreditation systems.