Indian edtech startup WhiteHat Jr said to be in talks to raise $50m funding

WhiteHat Jr focuses on teaching coding to young kids within the age group of 6-14. Photo: Rohit Farmer/unsplash

A slew of venture capital, private equity and sovereign funds are mulling an investment in Mumbai-based educational technology startup WhiteHat Jr, per a report by The Economic Times.

The development comes at a time when the demand for online learning has shot up amidst the COVID-19 outbreak.

Amongst those who are in the fray to pick up a stake in WhiteHat Jr are Singapore’s GIC, home-grown private equity firm Multiples Alternate Asset Management, and venture capitalist Sequoia Capital, among others, the report added. Talks are understood to be at a preliminary stage.

The startup, launched in 2018, is currently on the road to raise $50 million. It focuses on teaching coding to young kids within the age group of 6-14.

The company is reportedly looking to recruit over 2,000 teachers and 400 employees every month to ramp up capacities and support its growing student base. It claims to witness a significant jump in paid student subscriptions over the past two months during the lockdown period.

Going forward, WhiteHat Jr plans to expand its operations in the global market.

The startup made headlines in September 2019 when it raised $10 million in a Series A round of funding led by Nexus Venture Partners and Omidyar Network.

Edtech startups are increasingly evincing investor interest as contours of education have undergone a drastic shift over the past few months. Among others who have recently closed funding in India include Pariksha, SoME, Guvi Geek, Qin1, Vedantu, Expertrons, Pedagogy, and Camp K12.

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. 
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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.