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Carfax completes seed round at US$10M valuation to build global online learning platform

The initial stage of funding has raised US$1 million investment led by Welthee

Dubai, Nov 17, 2021: Carfax Education, the UAE-based global education group, has raised US$1 million in initial funding to build the world’s first blockchain powered online education platform, Carfax College Online. Backed by Welthee, a decentralised investment fund, the investment will enable Carfax to further develop the platform for launch in January 2022.

Carfax College Online will combine self-led learning with one-to-one tuition to make education more accessible to a wider range of students internationally. A tiered pricing system will allow students to build a personalised learning plan, starting with access to interactive online lessons through to one-to-one tuition, which can be scaled up and down in line with their needs and development.

According to Carfax Education, it will be the first mainstream education provider to launch its own crypto token as part of the platform, incentivising students to earn as they complete courses and modules. The earned tokens can either be spent on Carfax services such as consultancy, additional tuition and extracurricular courses or withdrawn when the student completes a programme. 

Tudor Oros, Managing Director, Carfax Education says that they have seen a huge rise in demand for homeschooling services as parents have seen the advantage of a more flexible approach to education and the benefits of self-led learning. However, homeschooling is traditionally expensive. So they saw a gap in the market to create a model that makes this education system more accessible to students across the world, to fit every lifestyle, ambition and learning style, says Oros. 

The platform goes beyond homeschooling and will be available for students who want support with particular subjects alongside mainstream schooling. “We will be offering tuition on core subjects as well as access to extra-curricular courses besides training in soft skills such as financial literacy,” adds Oros. 

When Carfax College Online launches in 2022, it will start with Key Stage 3, GCSE and A-level courses for students aged 11-17. Eventually, the platform will make UK, US and IB curricula available to all students and expand into younger age groups starting four years.

According to Cristian Voaides, CEO, Welthee, Carfax will onboard 10 million students over the next five years as the users of the platform. 

Carfax College Online portal will provide every student with a mentor to guide them through their learning plan. Each tutor will have a full profile outlining their experience, and students will be able to browse by price, availability and reviews from other students. Students will be able to access tuition from within 10 minutes of making the request.

“At Carfax we understand that tutoring requires a specific skill set and is different to teaching in a school so we’ll be recruiting the most experienced tutors who are experts in their field.  Our unique one-to-one teaching method has been the key to the success of Carfax Tutors and is something that we want to bring to more students via the online platform,” says Oros.

The platform will give students access to online classes with the option of one-to-one tuition. 

Carfax plans to scale its full-time tutor recruitment and will hire tutors from across the world. 

With courses and lesson plans developed by a team of education specialists, including senior examiners, the platform will offer a blend of traditional and emerging subjects to prepare students for careers of the future and give them the edge when it comes to employment. The platform will partner with industry experts to deliver courses on blockchain, robotics, coding and more, with the range of subjects evolving in line with demand. 

Carfax will use the initial funding to complete the platform build ready for soft launch in January 2022 with the aim to raise further funds over the coming months. 

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