Zookal’s funding round gives a $5 million Valuation!

- February 9, 2012 2 MIN READ

When founders of Zookal Ahmed Haider [26] and Tia Saunders [23] met during a marketing class at university, the two discovered they both had an interest in entrepreneurism, soon after they founded the universities first Entrepreneur society and then went into business together forming Australia’s largest text book rental service Zookal.

The pair have just successfully closed a recent round of funding with Artisian Venture Capital which values the business at 5 million dollars. There were offers from the US but the Australian firm was able to close out with a better sea locally, a great news story all round for the Aussie startup scene.

Zookal provides a faster, easier and cheaper way for uni students to access textbooks, with around 30% of students not being able to afford to buy their own textbooks, it is an extremely disruptive and successful alternative to the textbook industry. One of the particular things that they excited about is the plans to go into the South East Asian market in particular, and this was a point that had investors excited as well.

The main revenue for Zookal presently comes from text book rentals, however there are two exciting new services that will be part of the platform very soon, the first is their guaranteed buyback scheme and the second is a notes platform, where students can interact and exchange and sell their class notes. We already know that collaborative learning is fast becoming the new way to learn so we predict this to be a very popular service for the company.

“At the moment our focus is on growing our current library and reaching more students, the funding has allowed us to bring on our CTO full time and increase our productivity. We want to be known as a one stop shop for university students” says the pair.