Delhi-based edtech startup Classplus has raised $1.6 million in its pre-Series A funding round led by Tokyo-based early-stage venture capital firm GREE Ventures and Times Internet, a subsidiary of media house Bennett Coleman and Co. Ltd.
Japanese VC Spiral Ventures and existing investor, Rising Stars Fund from Netherlands, also participated in the round, according to a statement.
Launched in January 2018, Classplus is a mobile-first SaaS platform for private coaching centres. The platform helps coaching centres take their business online and streamline their communication, content distribution, payments and assessments through the app thereby reducing their time spent on management activities and focusing more on classroom teaching.
The startup will use the funds to expand its product offerings, ramp up its leadership team, scale up operations and build a data science engine.
“Tech-enabling supplementary education is a massive opportunity, and the founders have the right insights to create a significant large business,” said Abhishek Gupta, VP – Times Internet Ltd
Times Internet recently led an $8-million Series A funding round into Singapore-headquartered student housing platform Oxfordcaps. The financing also saw participation from existing investors Kalaari Capital and Silicon Valley-based 500 Startups.
In a recent edtech deal from India, CollegeDekho, which helps students connect with prospective colleges and keep track of exams, raised $8 million in a Series B round from investors Girnarsoft and London-based Man Capital LLP.