The funds will be utilised to fuel the company’s growth and make further inroads into the interiors of India, apart from accelerating product innovation in line with a student-first approach, the company said in a statement.
With the latest investment, Leverage Edu’s total funding till date stands at over $10 million.
Earlier this year, the company had raised $6.5 million as part of its Series A funding, which was led by Tomorrow Capital and backed by existing investors Blume Ventures and DSG Consumer Partners.
“In the past year, apart from metro cities, Leverage Edu has penetrated into non-metro markets, which now contributes 60% of our customer base. This debt round will help us in building further towards this objective through relevant product and resource investments and thus emerge as a truly pan-India service,” said Akshay Chaturvedi, founder & CEO, Leverage Edu.
Leverage Edu also counts prominent angels like Goqii founder Vishal Gondal, Saama Capital managing partner Ash Lilani, and Pine Labs chief executive Amrish Rau among its other investors.
INDIA DEAL MONITOR
Here are prominent venture capital transactions in India from June 8-10, 2021.
|Startup||Headquarter||Investment Size (USD)||Investment Stage||Lead Investor(s)||Other Investor(s)||Industry||Verticals|
|Leverage Edu||Delhi||2 million||Debt||Trifecta Capital||-||Education/Training||EdTech|
|MobiKwik||Gurugram||20 million||Series G||Abu Dhabi Investment Authority||-||Financial Services||FinTech|
|Kale Logistics||Mumbai||5 million||Series A||Inflexor Ventures||-||Logistics/Distribution||Ridesharing/Transport|
|Shyplite||Delhi||1 million||Debt||N+1 Capital||-||Logistics/Distribution||E-commerce|
|Zenoti||Hyderabad||80 million||Series D||TPG||-||Software||SaaS|
|Refyne||Bengaluru||16 million||Series A||RTP Global, DST Global||XYZ Capital, QED Investors, Jigsaw VC||Financial Services||FinTech|
|Walko Foods||Mumbai||4.8 million||PE||JM Financial Private Equity||-||Food||-|
|Greenjoules||Pune||4.5 million||Series A||Blue Ashva Capital||-||Renewable Energy||CleanTech|
|Whatfix||Bengaluru||90 million||Series D||SoftBank Vision Fund 2||Eight Roads Ventures, Sequoia Capital India, Dragoneer Investment Group, F-Prime Capital, Cisco Investments||Software||SaaS|
|Reevoy||Mumbai||-||Seed||Stellaris Venture Partners||Start-up Angel Network (SAN), Better Capital, Kunal Shah, Ramakant Sharma, Ashish Sharma, Atul Mehta, Vinod Murali||Financial Services||FinTech|
|IntelleWings||Haryana||100,000||Seed||Friends of PadUp, Vinners (Value Investors Network), SucSEED Indovation Fund||-||IT Security/Cybersecurity||AI and Machine Learning|
|Capital Float||Bengaluru||6.8 million||Debt||Triodos Investment Management||-||Financial Services||FinTech|
|BuyerAssist.io||Pune||2 million||Seed||Stellaris Venture Partners, Emergent Ventures||Better Capital||Software||Sales & Marketing Software|
|F5||Delhi||350,000||Pre-Series A||-||Mohit Satyanand, Huddle, AngelList, Venture Catalysts, Rohit Chanana||Food||FoodTech|
|Wellbeing Nutrition||Mumbai||-||-||Klub||-||Consumer Products||Fitness & Wellness|
|CustomerGlu||Bengaluru||320,000||Pre-Seed||Better Capital||Ramakant Sharma, Sprouts Investments, Amit Singhal, Aakash Kumar||Software||SaaS|
|MentorKart||Delhi||150,000||Seed||Amit Singal, Manish Aggarwal||-||Education/Training||EdTech|
|Cell Propulsion||Bengaluru||2 million||-||-||-||Energy Storage & Batteries||Electric/Hybrid Vehicles|