Mumbai-based Klassroom Raises Additional $175k In Pre-series A2 Round
Klassroom Edutech, a Mumbai-based hybrid (offline to online) tutoring platform, has raised an additional $175,000 in pre-Series A2 round led by ah! Ventures.
The round also witnessed participation from several angel networks like StartupLanes, Startup Angels Network, Meteor Ventures and Hem Angels along with marquee angel investors such as Pavan Bakeri (Managing Director, Bakeri Group), Kishore Ganji (Founder, Astir Ventures), Amit Kothari (Country Head, ICICI Bank), Abhijit Saxena (ex-CEO Netcore), CPT Family Trust, Chandru Chawla (Executive VP, Cipla) among others.
Started in 2016 by Dhruv Javeri, Klassroom conducts classes for standards 6 to 12, IIT-JEE, NEET, CA, CS and for other leading competitive exams and plans to add new courses every month. For the urban markets, Klassroom’s hybrid business model provides flexibility to students wherein those enrolled for physical tutoring can access online/live tutoring and vice versa. The platform is collaborating with schools and several state governments on various projects across India to onboard 5 million students on the Klassroom platform.
The company differentiates itself from other EdTech players by focusing on solving fundamental problems of the education ecosystem such as affordability, accessibility, accountability and flexibility. With ‘Klassroom for Bharat’ mission for the mass market, Klassroom Edutech, through its website and app, offers live lectures that stream directly from the in-house ‘K-Studio’. Leveraging its hybrid model and on- the-ground partner network of over 160 local coaching centers, it provides attractive price-points thereby making high-quality learning accessible to the middle and low- income groups.
Commenting on the funding, Co-founding Partner of ah! Ventures, Abhijeet Kumar, said, “Klassroom’s growth last year underlines its students-first approach and deep focus on learning outcomes. We are excited to make a follow-on investment in Klassroom, to support its mission of transforming the education sector in India.”
Klassroom Edutech has a partner network of more than 160 brick and mortar centres across Mumbai and Delhi. The startup launched its online business during the lockdown in 2020.
Founder of Astir Ventures, Kishore Ganji, added, “At Astir Ventures, we invest in early-stage startups, and as such, we look for two main factors in startups: the founders and the MOAT. Despite the latter being a very crucial element for success, it is often the tenacity, grit and capability of the founders that ensure the ship sails towards the destination; irrespective of the tide and sea. Beyond Klassroom’s unique idea and vision of providing quality coaching access to everyone, it was Alka, Dhruv, and Dhumil’s mettle and expertise that won us over.”
The startup claims that it has more than 10,000 students across 500 cities, 22 states, and three union territories and claims to have spent over a million hours studying on Klassroom’s online platform.
Klassroom is now looking to raise $1 million over the next 3 months and is expecting to double its current valuation within this time frame on the back of tremendous revenue growth.
Last year in May, Klassroom Edutech had raised $200k as a part of its Pre-Series A funding round led by ah! Ventures. Since then, the company has registered 6X revenue growth and doubled its valuation in under 6 months.
The latest development brings ah! Ventures total tally of funds raised in the past 6 months to $600K. The firm has done a total 106 investments (in 81 Startups) till date, taking its total investment portfolio to INR 256 CR (~34 MN USD) with 13 exits and 23 follow on rounds.
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