India: Eduisfun raises $28m from Deepak Parekh, Amitabh Bachchan

Visual from Educational Initiatives website

Edtech startup Eduisfun Tuesday announced that it has secured funding worth $28 million (Rs 200 crore) from a clutch of angel investors and high net-worth individuals, including HDFC chairman Deepak Parekh and Bollywood actor Amitabh Bachchan.

Others who invested in the round include Piyush Pandey, chief creative officer of the Ogilvy Group and Russell Parera, partner, assurance at Price Waterhouse & Co.

Mumbai-based Eduisfun will use the capital to increase its scholarship pool and for technological updates on its app.

Launched in 2014 by Jatin Solanki and Praveen Tyagi, Eduisfun is an adaptive platform which provides an enhanced gamified learning experience, and uses analytics for personal performance tracking.

Its flagship product STEPApp has been designed for students of private, central and tribal schools, and works on the most basic smartphones with minimal data requirements. The app is already deployed in 16 tribal schools of Maharashtra, according to Eduisfun’s website.

STEPapp starts with building math and science proficiency via two programs – STEP Scholar and STEP Learn. STEP Learn is the learning program for grades five to 11 mapped to complete math and science syllabus of CBSE and ICSE. STEP Scholar programme offers scholarships ranging from Rs 10,000 to Rs 1 crore.

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.