Vidyakul Closes INR 12 Crore In Pre-Series A Round The platform claims that it enables more than 10 lakh students from 10 states to access education in four major Indian languages
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Vidyakul-Bharat Ka Online School, a vernacular e-learning platform, closes INR 12 crore in pre-Series A funding round led by JITO Angel Network, a community-based angel network in India, joined by Nadathur Technologies, Indorama Capital Holdings, Tech Innovations, Veena Munganahalli and We Founder Circle.
"We are proud to associate with a company that aims to make education and access to learning universal in a diverse country like India. The ultimate goal is to support education of minds who will form the bedrock of our country in the Asian century. Vidyakul, with its large content bank and regional focus, has our full confidence," said Pooja Mehta, chief investment officer, JITO Angel Network.
JITO Angel Network is a community-based organization that invests in budding entrepreneurs and supports them by leveraging the community platform of Jain Internation trade organization. The network has to date built a strong portfolio of more than 65 companies where over 30 have raised up rounds and follow-on rounds, claimed by the company in a statement.
"We are building a platform, which is tailor-made to suit the needs of individual students, giving them a classroom-like experience. We are thankful to JITO Angel Network for its continued support to Vidyakul by not only investing in all rounds but also assisting in partnerships with various business committed to state board students," said Tarun Saini, founder, Vidyakul.
Founded in 2019, Vidyakul offers live lectures and pre-recorded courses in Hindi, Gujarati, Bhojpuri and English to help state board students to learn and achieve their academic goals. Vidyakul claimed in a statement that it enables more than 10 lakh students from 10 states to access education in four major Indian languages.
According to India Brand Equity Foundation, the edtech industry in India is slated to expand at a CAGR of 39.77 per cent to reach $4 billion by 2025. Of this forecasted value, $1.5 billion will be concentrated in the K-12 segment and in pre-preparational and after school foundation course. Demand for courses from tier II and III cities too will have a major role to play in this growth.