Indian edtech startup Teachmint raises $78m in Series B funding

Teachmint founders. Photo: Teachmint.

Teachmint, an India-based edtech startup, has raised $78 million in a Series B round co-led by Rocketship.vc and Vulcan Capital, according to an announcement.

The round saw new investors, including Goodwater Capital and Epiq Capital, join the company’s cap table. Existing backers Learn Capital, CM Ventures, Lightspeed India and Better Capital  also participated in the round.

Founded in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, Teachmint enables tutors and institutes to deliver live online classes in 11 different languages, including Hindi, Telugu, Tamil and Punjabi. It claims to be the largest live teaching platform in the world outside of China with more than 10 million teachers and students from over 5,000 cities on its platform.

The latest round brings the company’s total funding to date to $118 million. Teachmint is now valued at $500 million, per a TechCrunch report.

Teachmint will use this fresh infusion of funds to strengthen its proprietary classroom technology as well as to expand into international markets. The startup aims to reach over 100 million users globally in the near term.

“Teachmint has addressed a latent technology problem in the education sector and are well positioned to scale their offering globally. Strong leadership, combined with the passion and conviction to solve this, makes us a strong believer. We are glad to be on this rocket-ship,” said Madhu Shalini Iyer, Partner, Rocketship.vc.

In July this year, Teachmint had raised $20 million in a pre-Series B round led by Learn Capital and joined by CM Ventures.

The company had raised $16.5 million in May in Series A funding led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital.

Several edtech firms in India have raised funding in recent months. In August, online tutoring company Byju’s was reported to be in talks with several investors to raise $1-1.5 billion at a valuation of nearly $21 billion.

While upGrad raised $120 million from Singapore state investor Temasek in April, global PE giant Blackstone invested $250 million in online higher education firm Simplilearn in July for an over 60% stake.

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.