PurpleTutor Raises INR 10 Crore In Series A Funding The fund raised will help the company build its product offering and strengthen the AI product
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PurpleTutor, which focuses on AI-based live classes, has raised INR 10 crore in its Series A funding round. The round saw participation from Disruptors Capital, IvyCap Ventures, Arjun Malhotra (co-founder of HCL) and others. The fund raised will help the company build its product offering and strengthen the AI product
"Our artificial intelligence in live classes is a very unique product, and it helps to personalize classes at the same time helping teachers. The current fund raise will help us strengthen our technology and product teams, and build on our AI product even further and expand product lines," said Gaurav Perti, CEO, PurpleTutor.
The company has earlier raised INR 3 lakh in its Seed round in January last year, which turns to a total of $1.6 million. The company has recorded a 4.5 times jump in revenue in FY21 compared to last fiscal year. Its overall revenue for FY21 stood at INR 10.41 crore, claimed by the company in a statement.
"We have been impressed with PurpleTutor's ability to personalize a learner's journey. Most recently, the internal results from their homegrown AI for teaching product, promises a big step forward towards personalization in edtech and enhancing learning outcomes for students. We are glad to be a part of their journey, as they embark on this next stage of innovation in edtech," said Raj Juneja, managing partner and CIO, Disruptors Capital.
PurpleTutor is a Mumbai-based edtech startup focuses on artificial intelligence-driven live classes in the age group of 6 to 18.