India: Edtech startup Udayy raises $2.5m from Alpha Wave, Info Edge

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Gurgaon-based kids learning platform Udayy on Monday said that it has raised $2.5 million seed funding led by Alpha Wave Incubation (AWI) managed by Falcon Edge Capital, and InfoEdge Ventures.

Founded by Saumya Yadav, Mahak Garg, and Karan Varshney – alumni of IIT Delhi and Stanford University – the start-up had its first round of angel funding in June 2019. Udayy will use the capital proceeds for the next phase of its growth which includes curriculum development, product suite expansion, and hiring across the product, curriculum and engineering teams.

The latest round also saw participation from Better Capital, Kunal Shah and other angel investors. The online platform provides interactive classes for Mathematics and English to children in the age group of 6-11 years.

“After-school education in the younger age group segment is an untapped market in India. Udayy is on track to disrupt the space through its experiential learning model, which uses technology driven gamification as a key driver of learning outcomes,” Anirudh Singh, Managing Director, Alpha Wave Incubation, said in a statement.

As supplementary education gains ground, and role of technology is being harnessed to reduce classroom education, ed-tech firms in India are getting a huge traction.

“Primary grades are formative years of education for children…Udayy is making learning fun and engaging for children by bringing ‘learning by doing’ methodology through games, roleplays, and activities to our classrooms. We are thrilled to partner with AWI, Info Edge Ventures and our other investors…,” said Yadav.

This article was first published on livemint.com

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.