Edtech Platform Kyt Raises $5Mn In A Series A Round Led By Alpha Wave Incubation
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Bengaluru-based edtech platform Kyt on Wednesday announced to have raised $5 million in a Series A funding round led by Alpha Wave Incubation (AWI) and saw participation from Sequoia Capital India’s Surge, January Capital, Titan Capital, and other angel investors. The edtech startup is the first Indian company to receive investment from Singapore-based January Capital.
As part of this investment from AWI, the company will expand its operations to Abu Dhabi and use the Emirate as its regional headquarters for targeting the GCC, MENA, and other global markets, and will also build a team of data scientists, product managers, and engineers located in Abu Dhabi.
The funds raised will be used for deeper investment in technology and product, to enhance the overall experience of the students, and to accelerate global expansion. The startup has students from India, UAE, and Singapore and is looking to scale its footprint to the US, Canada, the UK, and Australia.
“With Kyt, we are going beyond conventional academic learning by building an academy that nurtures holistic and all-round development of children. It is essential to foster children’s interests and encourage learning that equips them with creative and real-world skills; thereby molding their individual strengths and making them more confident. This new investment will greatly boost our efforts in providing a well-structured curriculum, designed by pedagogy experts and education consultants to help each child realize their potential,” said Bhavik Rathod, co-founder, and chief executive officer, Kyt.
Founded in June 2020, the firm runs online-only extracurricular courses by combining live classes with video-based revision materials for children from ages 5 to 15 years, in a full-stack model. With flexible private and small group sessions, the company offers courses across disciplines such as yoga, dance, music, chess among others, to students around the world.
To infuse holistic learning among children, the platform allows access to high-quality extracurricular courses with a structured curriculum, designed for online learning. The platform provides a proper mix of training, assessment, feedback, and encouragement. With animated videos and gamification of lessons, the firm encourages kids to practice more and learn better.
“Extracurricular learning is a critical aspect of a well-rounded education. Kyt has made it possible for students from every corner of the world to access quality learning from best-in-class teachers and practitioners in each field. We are excited to back Bhavik and Tripti in their mission to build a world-class online-first, global academy for extracurricular learning,” shared Utsav Mitra, investor, Falcon Edge Capital.
The platform has said to have secured exclusive partnerships with top educators and artists to increase children’s love of learning, including Indian Chess grandmaster Vidit Gujrathi, Mumbai-based vocalists Kamakshi and Vishala, Philippines’ hip-hop legend Ruel Varindani, and celebrity yoga instructor Sabrina Merchant. It plans to add more courses, including speech and debate, spelling bees, guitar, and keyboard, among others.
The edtech startup is also backed by prominent angel investors including Allen Penn, Kunal Bahl, Rohit Bansal, Amrish Rau, Kunal Shah, Jitendra Gupta, Martin Li, Apremeya Radhakrishna, Anand Chandrasekaran, and Akhil Paul.