Ed-tech space is gaining a lot of attention from investors as there are between 4-8 funding deals every month in this space. The recent funding in this space is that a Delhi-based ed-tech startup Avishkaar Box has raised Rs.5 crore funding in pre-series A round of funding led by Auxano Deals, revealed a company statement.
In 2014, the ed-tech startup Avishkaar Box was founded by Swati Gupta and Tarun Bhalla. The startup manufactures and sells robotics based educational box to school going children. The startup plans to use the raised funding to expand its operations in India and Asia as well as hire talented people for product development. The startup confirms that over 400 schools have adopted its product for students development and also claims to have 125 tinkering labs in India.
Bhalla said, "We are experiencing exponential growth, and we need to hire energetic and focused people who can drive it. Along with this, our product team is all set to launch a fabulous product range with more focus on the entry level of this market.
He added, "The startup is also looking to strengthen its channel partner network especially in Karnataka, West Bengal, Odisha and other parts of east and south India. We are confident that we will double company's turnover to $3 million within two years from $1.5 million in the current year.
Investments in Indian ed-tech space in this month are, a Chennai and Singapore-based ed-tech startup Littlemore Innovation Labs hasraised Rs.20 crore funding from Centrum Groups PE fund Kalpavriksh. Bengaluru-based ed-tech startup IMAX Program hasraised Rs.87 crore funding from the Michael Susan Dell Foundationand PE firm LGT Impact Ventures.