Edtech Startup Bambinos.live Raises $500,000 Seed Funding
Funds will be utilized for product development, scaling up its distribution network and enhancing the course content across categories of extracurricular activities
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Bengaluru-based digital academy for extracurricular activities Bambinos.live announced to have raised $500,000 as part of its Seed investment round from HNI and Angels including Ankit Nagori, Neeraj Aggarwal, Abhishek Nag, and family fund of MEL.
The startup Bambinos.live was founded in June 2020 by Ashish Gupta, along with his co-founder, Ankit Hetamsaria.
Bambinos.live will use fresh funds for product development, scaling up its distribution network and enhancing the course content across categories of extracurricular activities.
"In the last ten months, we've observed a surge in parent's demand for extracurricular activities for their children. There are currently over 15000 kids who have registered on our platform, including from India, Singapore, Japan, Korea, Canada and the Middle East. This new funding will enable us to grow our company and add new products and revenue streams. We have built a strong network of educators and content designers which help us differentiate through our in-class experience. Further, we have built a very strong operational control with high efficiency model. This keeps our cost low and provides high consistency in customer experience. Our idea is to help a child discover multiple interests outside school while helping her builds some critical life skills. All our programs are selected and designed to enhance learning experience compared to offline," said Ashish Gupta, co-founder and chief executive officer, Bambinos.live.
Bambinos.live has seen an increased customer interest and retention in their platform as parents are seeing value in their courses. With right selection of courses, they expect this to continue in the long run, even after the pandemic led lockdown gets over. The start-up has recently announced the 'Fight Against COVID' campaign initiative to provide all its live extracurricular classes freely accessible to the children of frontline workers across India. The campaign is a month-long initiative starting June, to keep the children of frontline workers indulged in fun learning activities and help them cope with the mental ramifications of the on-going COVID-19 pandemic.
"I'm very excited to back the Bambinos.live team for building an ecosystem in extracurricular learning. Beyond curriculum learning is a very large space and is the need of the hour when academic excellence may no longer be enough for a child to succeed. Ashish and Ankit are very experienced operators and are putting the right building blocks to scale this category in edtech," added Neeraj Aggarwal, co-founder and chief operating officer, Xto10x.
With the support of its powerful product category, the company has successfully on boarded more than 15,000 students on its platform in less than a year. With the help of this fresh funding, Bambinos.live is targeting to hit revenue of $2 million ARR in next six months, the company shared.