B2B Startup Uolo Raises $22.5 Million In Series A Funding Uolo's open architecture platform allows third party education publishers and new-age content creators to develop physical learning programs for K-12 schools and students
By Teena Jose
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Edtech startup Uolo has raised $22.5 million in Series-A funding round led by UAE-headquartered VC fund Winter Capital. The funding round also saw participation from existing investors Blume Ventures and new Dubai-based fund Morphosis Venture Capital. Uolo had previously raised a seed funding of INR 20 led by VC funds Blume Ventures in November 2020, as per a statement given by the company.
"The truth is that, after a few hours of play, rest and mandatory school homework, K-12 students do not have much time left. The edtech solutions need to build on top of 6 hours spent in school daily and magnify the outcomes by leveraging the smartphones available at home. The lack of alignment with school, together with exorbitant pricing is causing edtech companies to falter," said Pallav Pandey, CEO of Uolo.
Uolo's open architecture platform allows third party education publishers and new-age content creators to develop physical learning programs for K-12 schools and students. Uolo has partnered with more than 8500 schools across India and currently reaches over 3.7 million students, claimed by the company in the statement.
"The first wave of edtech companies in India have proven consumer interest in online education. However, they lacked a cost-effective distribution. We believe that there will be a new generation of edtech companies capable of building organic, low-cost distribution, allowing students to study at $10 per year rather than $10 per hour. Our investment in Uolo is based on our confidence in this type of company," Anton Farlenkov, managing director of Winter Capital.
