Photo - Erudito
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Erudito

Google classroom with content for primary school.

Ukraine, Kharkov region
Market: Education, training
Stage of the project: Prototype or product is ready

Date of last change: 20.08.2021
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Idea

Erudito brings ready-to-use content to teacher, paperless homework and gamification of education in Primary school.

Current Status

We've run an MVP in Ukraine and got the first traction:

B2B: $4250 from private schools. Selling Erudito platform

B2C: $1200 from subscription.
Subscription for a month costs $3.99, forever $19.

CAC $3.2
LTV: $3.8

Ukraine market is small, so currently we're looking for the growing market of LatAm.
Got 2 meetings with Peru and Bolivia councils, working on a prototype for Spanish speaking countrie.


Market

Ideal customer - Principal in Private school which wants to add competitive advantage to his school. Location: Peru, Mexica, Spain, Ecuador.
End users are teachers + kids in primary school.

Estimated price for 1 month from user $5. There are more than 20 000 schools in Peru. It's a big and growing market. We have in partners ex-council of Peru in Ukraine. The goal is to sign a letter of intent with 5 private schools by the end of Sept.

Problem or Opportunity

B2B: Erudito saves 8h - 12h weekly for teachers providing ready-to-use content, ability to send home task right to the smartphone. Neither Google class nor existing competitors provide content in addition to their LMS platform.

Solution (product or service)

Erudito Provides safe, AI-empowered solution in a platform.
Erudito brings ready-to-use content to teacher and paperless homework.

Competitors

Epic! https://www.getepic.com/sign-in
TinyTap: https://www.tinytap.com
Mental UP: https://www.mentalup.co
Matific: https://www.matific.com/ua/uk/home/

Advantages or differentiators

Ready to use content for teachers in primary school.
All primary school subjects in one app
LMS paired with native mobile apps. Proven ability to work on distance education.
Online-battle (aka kahoot) for kids.
Statistics for parent
AI-empowered algorithm of complexity
Answers to any kid’s question by human.

Finance

Revenue stream - monthly payment for students in primary school.
Who pays - parent, the sum might be added to the monthly payment of school. In Peru monthly payment for private: $150 - $3000. Adding +$5 is not a big deal. We did research with parents in Peru and they agreed to pay for the digital product.

Revenue:
2019 - $0
2020 - $450
2021 - $65 340
2022 - $263 390

Business model

Business model - subscription.
There are 2 channels B2C, B2B. for LatAm we're focusing on B2B.
Parent will pay $5/mo for kids accessing the Erudito app and content.


Traction we got in Ukraine:

CAC $3.2
LTV $3.8
Average time in app 14m 38s.

Money will be spent on

50% marketing
30% development
20% operational

Offer for investor

$700k for Equity, negotiable.

Team or Management

Risks

- Google starts to male own content on their platform
- Product is not good enough
- Competitor which we don't know
- Government regulation on mobile phone usage in school

Incubation/Acceleration programs accomplishment

Startup School (YC) - lectures 2018,2019,2020.
reBootCamp Kharkiv 2020 - top5 startups.
TractionCamp (USAID + USF partners) - completed
Startup kotiki learning center - all lectures completed
EO accelerator - in progress

Won the competition and other awards

Aug 2020, Startup network, Unicorn battle - 2nd place
Dec 2020, Ukrainian Culture fund, $20 000 UAH,
May 2021, UKrainian Startup Fund, $25 000 pre-seed grant and People choice award.
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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Photos
Product Video