Get All Access for $5/mo

Edtech Startup Ingenium Raises Seed Investment The startup is going to utilize the funds in scaling its operations, strengthen its adaptive assessment technology, improve its product and expand the team

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Unsplash

Edtech startup Ingenium has recently raised an undisclosed amount of funding in the Seed round from India Accelerator's iAngel Network, Lead Angels, Indian Angel Network, and other investors.

There are around six million small and medium institutes in India. The current COVID situation and rise of competitive edtech companies have compelled these institutes to adopt digitization. Ingenium is providing a full-stack digitization platform to these institutes where they can take their institute completely online and scale themselves. Adaptive assessment, in-depth academic analysis, real-time teacher-student-parent interaction is something that is making these institutes adopt the platform.

"We are thrilled with the opportunity that this investment round has given to us. It will help us to scale, hire more people, make our product seamless for our customers, and introduce new features and revenue streams," said Pramudit Somvanshi, chief executive officer, Ingenium.

To achieve the projected scale, Ingenium will focus on forming channel partnerships with already existing resellers in the market, hyperlocal companies in tier-II and tier-III cities. It will provide the tremendous boost that the company requires for achieving the projected scale of business.

"We are impressed with the idea of Ingenium and excited to back a tech-enabled edtech startup that is committed to bringing a change in the existing education system. The perseverance of the founders and the relentless efforts of their team in reaching out to the institutes and academic channel partners display their deep understanding and dedication to be a forerunner in the market. We are confident that Ingenium is will be consistent in offering a distinguished product to educators of Bharat with a sustainable business model," added Anshu Gupta, ex-AVP Investments, HT Media, and a prominent angel investor, who participated in the round through IA's iAngel Network.

Additionally, the startup will be working on adding new revenue streams by focusing on new opportunities such as B2B marketplace, content subscription, and adaptive assessments. As a result, Ingenium can focus on creating a distinguished market identity.

Prabhjeet Bhatla

Former Staff

News and Trends

Recur Club Announces Credit Offerings for Startups Beyond Series A and SMEs

In FY 24–25, the platform also plans to deploy an additional INR 2000 crores through its Recur Swift program for startups.

News and Trends

Multiples Private Equity Leads INR 1000 Cr Funding in Shubham Housing

With the raised funds, the Gurugram-based platform aims to propel its growth trajectory, diversifying its product offerings and strengthening its national footprint.

Leadership

How to Master the Art of Delegation — Lessons From Andrew Carnegie's Legacy

Here's what Andrew Carnegie can teach today's entrepreneurs about leadership, teamwork and effective delegation.

Business News

I Tried Buying a Car on Amazon. Here Are the Pros and Cons.

Amazon Autos just launched, and users can buy a new car online. Here's how it works and what needs to improve.

Business News

Alexis Ohanian Says This Is His Best Investment So Far: $10,000 Turned Into More Than $17 Million

Ohanian has backed 40 unicorns, but one investment stands out the most.

Management

AI is the Coworker of the Future — 3 Ways Employers Can Get Ready

Companies are eager to embrace AI, but many employees are not fully prepared for it. To turn their AI aspirations into reality, businesses must first foster a company culture where employees feel comfortable with the new technology.