India Deal Monitor: RTP Global leads $9m funding in Classplus and more updates

Delhi-based edtech startup Classplus has raised about $9 million in its Series A funding round led by early-stage tech investor RTP Global.

Existing investors including Blume Ventures, Sequoia Capital India’s Surge Ventures, Spiral Ventures and Strive also participated in the capital raise, the startup announced on Monday.

“The capital infusion will be used to improve the technology while expanding the product offerings,” Classplus said in a statement. The startup said, it is expanding its product, engineering and business teams, including strategic leadership to drive expansion as it scales rapidly.

The platform is also working with content publishers to establish easier access to online assessments for the ecosystem, the statement added.

Started in 2018 by Rustagi and Bhaswat Agarwal, Classplus is a mobile-first SaaS platform that helps coaching institutes and their tutors streamline communication, content distribution, payments, and online assessments through its app. The platform is currently used by 3,500+ coaching centres across 70+ cities and towns in India.

Classplus had raised $2.5 million in its pre-Series A round of funding from Blume Ventures and Surge Ventures in February this year. The round had also seen participation of angels Kunal Shah, Founder of Cred and Freecharge; Alvin Tse, GM, Xiaomi-Indonesia; Eric Kwan, Partner at Locus Ventures; among others.

INDIA DEAL MONITOR

Here are some prominent venture capital transactions in India from April 30-May 4, 2020.

Expand Table

StartupHeadquarterInvestment Size (USD)Investment StageLead Investor(s)Other Investor(s)Sector
ClassplusDelhi9 millionSeries ARTP GlobalSurge Ventures, Blume Ventures, Strive Investment Partnership, Spiral VenturesEdTech
DailyhuntBengaluru35 millionSeries GLupa India-Internet
PratilipiBengaluru9.4 millionSeries CTencent Holdings Ltd.Omidyar Network, Shunwei Capital, Bennett Coleman & Co Ltd (BCCL), Nexus Venture PartnersInternet
LoadShare NetworksBengaluru13.2 millionSeries BBEENEXTCDC Group, Matrix Partners India, Stellaris Venture Partners, Alteria CapitalLogistics
MetaMorphoSys TechnologiesPune-Pre-Series AGood CapitalRahul Khanna of Trifecta CapitalFinTech
PedagogyAhemdabad400,000-Inflection Point Ventures (IPV)-EdTech
Happytizers Pvt. LtdBengaluru660,501SeedBeyond Next Ventures (BNV)Sajan Pillai, Dr. Muthu KrishnanFood & Beverage
CodeNinja.aiBengaluru-SeedEarly Adapters Syndicate (EaSyndicate) of LetsVenture-EdTech
RooterNew Delhi1.7 millionPre-Series APaytm, leAD Sports, Rockstud Capital, Founder Bank Capital Anthill Ventures, Venture CatalystsSports

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.