India: Ed-tech startup Toppr raises $7m led by return backers SAIF, Helion, others

Zishaan Hayath, CEO & Founder, Toppr

Education technology startup Toppr has raised $7 million in its second round of Series B funding led by existing investors SAIF Partners, Helion Ventures and FIL Capital Management.

Toppr, a mobile app for personalised learning for school students, raised a total of $12 million so far including May 2014 and May 2015 in its Seed and Series B funding rounds, according to an official statement.

“This is a second round of series B funding by our existing investors…This capital will be used to expand the geographical foot print and accelerate user acquisition. We expect this capital to take us to full profitability,” said Zishaan Hayath, CEO & Founder, Toppr.

Mumbai-based Toppr claims to have over 2 million registered students and over 1 million app downloads. It plans to expand aggressively and open centres in 30 cities by December 2017.

India’s online education market is expected to grow to $1.96 billion and about 9.6 million users by 2021 from $247 million and about 1.6 million users in 2016, according to a report by KPMG and Google Inc published in May.

With the immense potential in this space, investors are also keen on investing in ed-tech firms. Last month, Unacademy had raised $11.5 million in its Series B round led by venture capital firms Sequoia India and SAIF Partners with participation from existing investors and angels including Nexus Venture Partners and Blume Ventures.

The largest of these is Byju’s, which has raised an undisclosed amount of funding in a fresh round from China’s internet giant Tencent Holdings Ltd in July this year. In March, the company raised about $30 million from Brussels-based family office Verlinvest. It had also raised about $75 million from Sequoia Capital and Belgian family office Sofina. Prior to which it had received $50 million in a round led by the Chan Zuckerberg Initiative, followed by $15 million from International Finance Corporation.

Also Read:

India: Ed-tech firm Unacademy gets $11.5m led by Sequoia, SAIF Partners

India: Edutech startup Byju’s raises funding from China’s Tencent

India: Edtech startups are finally attracting investor interest after lacklustre 2015

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.