[Funding Alert] Teachmint Raises $3.5 Mn From Lightspeed India And Existing Investors The startup will leverage this funding for building out its product suite, introducing additional offerings, and increasing geographic reach to more tutors

By Prabhjeet Bhatla

Opinions expressed by Entrepreneur contributors are their own.

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

Teachmint

Live-tutoring platform Teachmint on Thursday announced it has raised $3.5 million in seed funding led by Lightspeed India and existing investors Better Capital and Titan Capital. This is the second round of funding for the platform in just two months since raising its first round in August earlier this year.

Launched in May 2020, the startup facilitates offline tutors to digitize their classrooms, engage online with existing students as well as reach out to a wider student base. It has further developed a mobile-first, video-first product that enables ease of content delivery, engagement, and evaluation and business workflow tools, which help tutors, manage their classes well.

"Teachers are at the center of a great education experience, and this is what will truly unleash the power of edtech. Our mission is to enable millions of outstanding tutors in India to take their classes online by leveraging Teachmint as their tech backbone. We are thrilled to partner with Lightspeed and our existing investors to continue to ramp up access for tutors across the country and beyond," said Mihir Gupta, Teachmint co-founder, and chief executive officer, in a statement.

Tutoring is highly localized, both in terms of languages as around 80 per cent secondary-level students study in Hindi and vernacular media, and the tutor's exclusive approach and pedagogy.

"India's tutoring and coaching market is estimated to be over $25 billion, is fragmented into millions of tutors and coaching centers, and Teachmint is ideally placed to not just enable this market but potentially expand it further. We are very excited to partner with the team from day one has demonstrated product-first thinking and deep market understanding," commented Harsha Kumar, Lightspeed India Partner.

The company is built with a focus on regional customization and is already available in 10 Indian languages other than English. As a result, the platform has seen standardized implementation across the country with the user base stretching from Srinagar to Port Blair.

"We invested at the founding stage of Teachmint based on a deep alignment with the founder's vision and I have been impressed with the pace at which the team has executed and the market pull Teachmint has experienced from tutors across India and Bharat," added Vaibhav Domkundwar, Better Capital founder and chief executive officer.

Education technology startup is founded by Gupta, Payoj Jain with Divyansh Bordia and Anshuman Kumar. The founding team's vision is to democratize online education by making online teaching easy and accessible to all tutors in India. The platform has raced to more than 120,000 tutors over across 1,000 cities and towns.

Prabhjeet Bhatla

Former Staff

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Related Topics

Leadership

International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs

Branding

6 Tips for Successfully Communicating Your Personal Brand

Follow these simple guidelines to stand out from the crowd and effectively broadcast your own personal brand to the world.

Business Ideas

55 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

I Tried 3 AI Headshot Generators and There Was a Clear Winner

Aragon AI, Momo, and FastShot AI all generate headshots using AI, but which one actually works for LinkedIn?

News and Trends

Early Stage Venture Fund Equirus InnovateX Fund Announces its First Close

With the goal of encouraging innovation in the tech startup ecosystem, EIF aims to make at least two investments in companies over the next month after securing the first closing.