Kreedo Early Childhood Solutions Raises $2.3 Miilion Pre-Series A
The fund will be utilized towards accelerating the company's next phase of growth and expansion
Kreedo Early Childhood Solutions, a Bengaluru-based company that provides end-to-end solutions to transform the way early learning is delivered, has raised $2.3 million in pre-Series A funding. The funding round was led by Switzerland-based UBS Optimus Foundation, Spectrum Impact, Gray Matters Capital and 1Crowd. The round also saw participation from Innospark Ventures, IIM-CAN and The Chennai Angels. The fund will be utilized towards accelerating the company's next phase of growth and expansion.
"Our vision to democratize quality early education. We have an overwhelming response from our partners schools who are looking for the most affordable and simplest way to improve foundational learning. The new round of funding will enable us to take Kreedo to more than 7000 schools across multiple cities in India," said Mridula Shridhar, CEO, Kreedo.
With the massive demand for in-school learning post the pandemic, Kreedo is well placed to accelerate rapidly. The firm has impacted more than 2 lakh children by implementing its curriculum in over 400 budget private schools and over 1500 preschools and has measured learning outcomes that are 50 per cent better than market in budget private schools-based on an independent study done by FSG, claimed by the company in a statement.
"We see Kreedo's business model as a unique way to create social change by making quality early education accessible to every child from lower income communities," said Dhun Davar, head of social finance, UBS Optimus Foundation.
"We are excited to be a part of their growth story and support their vision of impacting more than 1 million children annually in India, especially from lower income families by 2025," said Mirik Gogri, Spectrum Impact.
Founded in 2012 by Mridula Shridhar and VK Manikandan, Kreedo is on a mission to change the way early learning is delivered in budget private schools and preschools. As per reports, India has estimated over 3,50,000 budget private schools and preschools, which charge less than INR 30,000 per year and mostly cater to students from low-income families. Learning outcomes are quite low in most of these schools with majority of them still following rote methods and having limited resources to support or train their teachers.