ODA Class to Raise Another US$500,000 Funding, Eyes IPO by 2027 In August, the edtech startup secured US$500,000 in a series B funding round. The latest round will take the total funding to US$13,250,000.
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Edtech startup ODA Class is set to raise a second round of series B funding of US$500,000 from Skywalker Education Technology and Matrix Partners by the end of October.
In August, the edtech startup secured US$500,000 in a series B funding round. The latest round will take the total funding to US$13,250,000.
"A large part of the latest funding will be used in new technologies like AI as well as in marketing efforts," Vedant Hamirwasia, Director and Founder, ODA Class told Entrepreneur India.
Established in 2019, ODA Class currently has about 650 employees and it plans to take it to 900-1.000 employees in the next few months.
ODA Class courses are suitable for CBSE, ICSE and most Indian state boards, in addition to offering preparation of all competitive examinations pertaining to regional, national and international levels.
With 50,000 students already enrolled, with the latest funding in October, the edtech startup plans to enroll as many as 80,000 students.
The India e-learning market, which was valued at US$10.24 billion in 2023, is anticipated to surge to US$ 28.46 billion by 2029, with a CAGR of 18.57 per cent, according to Arizton Advisory & Intelligence.
This substantial growth is primarily driven by the increasing accessibility of affordable smartphones and extensive internet connectivity, which have made e-learning widely available to both urban and rural learners.
As part of its expansion plans, ODA Class also aims to expand to tier-II and tier-III cities where online learning penetration is still low but is in a "transition" phase, said Hamirwasia.
Positioned as a live online coaching platform for K-10 students, Hamirwasia, said, "Our USP lies in price, personalized learning, and mobile-based learning."
The startup reported a revenue of INR 65.81 crore in FY24, up from INR 63.76 crore in FY23 and INR 26.90 crore in FY22.
