Qin1 Raises Pre-Series A Funding From Venture Catalysts and Other Investors
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Edtech startup Qin1 on Friday announced to have raised an undisclosed amount in a pre-Series A funding round led by integrated incubator and accelerator Venture Catalysts. The funding round also saw participation from other leading institutional investors such as LetsVenture and JCurve Investment, amongst others.
In April 2020, Venture Catalysts and 9unicorns had also led the seed round for Qin1.
Founded by Ishan Gupta and Aarti Gupta, the activity platform is a building, learning, and development solution for children from middle-class and rural backgrounds in the relatively untapped tier-II geographies across India and nearby countries.
“Even though the edtech revolution in India is accelerating at a rapid pace, the mass consumer is still relatively untouched by the transformation that it can deliver. We aim to change that by building exciting solutions and products to aid the development of children in tier-II, semi-urban, and rural India. This funding round is a vote of confidence and motivates us to keep raising the bar ever higher by developing more relevant solutions,” said Ishan Gupta, co-founder, Qin1.
Designed for the mass market segment, the platform delivers low-cost solutions focusing on extracurricular learning, arming kids with skills in subjects such as English, coding, Math, among others, through a combination of live and pre-recorded content, said the statement.
The company is currently present in 50 cities across India and has more than 30,000 young learners currently benefitting from its low-cost edtech solutions.
“More than 60 per cent of India’s population lives in tier-II, semi-urban, and rural areas, and yet the current ecosystem for holistic child development is largely focused around the metropolitan and tier-I markets. Qin1 aims to disrupt that paradigm by building L&D solutions catering to the specific needs of mass consumers across the country. We are delighted to support this transformation with our latest investment and have full faith in the team’s long-term vision and growth potential. We are confident that Qin1 will soon become a leading player in this space – not just in India, but in all emerging markets across Africa and Southeast Asia,” added Dr. Apoorva Ranjan Sharma, co-founder, and president, Venture Catalysts.
The startup aims to tap into the $50 billion-market comprising middle-class and rural consumers by expanding its presence to more cities across India, as well as in other developing countries in Africa and Southeast Asia.