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Higgz Academia Technology To Raise Funds At $100 Million Valuation

In July, last year the company launched its TutorEva application

Higgz Academia Technology To Raise Funds At $100 Million Valuation

Outlook Start-Up Desk

POSTED ON April 24, 2023 2:51 PM

Singapore-headquartered edtech start-up Higgz Academia Technology is in talks with potential investors to raise an undisclosed amount at a valuation of $100 million. As per multiple media reports, the company aims to capitalise on OpenAI's ChatGPT system after raising the fund. 

Prior to this, the company raised $20 million in a round led by multiple investors including Matrix Partners and Qiming Venture Partners. 

Higgs also comes under the list of Chinese start-ups that are rushing outward for growth. China's internet market witnessed a downfall due to two years of regulatory crackdowns. 

Founded by Joye Sun in Beijing, Higgz earlier used to train algorithms for logical reasoning and mathematical calculations. Later, Sun registered the company in Singapore and bagged investment as he had intentions to create a learning application that would teach high school and university maths in the Western markets. 

In July, last year the company launched its TutorEva application. It is known for scanning math problems and providing step-by-step solutions via text, drawings and vocal prompts. The company has claimed that the application has attracted hundreds of thousands of monthly users in the US. 

The emergence of AI-driven ChatGPT is helping start-ups to raise funds. In an attempt to bag capital, a lot of start-ups are seen incorporating AI-driven chatbots. Higgz is also planning to embed OpenAI's innovative chatbot into its application in the coming time. 

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