90+ My Tuition App raises USD 5 million in Series A funding
Edtech grew by 1.5 times in customer base, 3.75 times in monthly addition of customers
New Delhi: 90+ My Tuition App, India’s best in-class Tuition App helping students to achieve exceptional grades through digital visualization announced that it has raised USD 5 million in Series A funding from Directors of Pearl Investment LLC , Dubai based business group members. The company will deploy the funds raised in market expansion, brand building, and product development across key cities in India.
“The growth potential for online primary and secondary education is projected to grow at a CAGR of 60 percent at USD 773 million by 2021 according to Online Education in India: 2021 report by KPMG. The growth has been driven by changing consumer needs wherein students are looking for interactive content at affordable prices. This change in consumer need has been fueled by access to smartphones and increasing internet penetration, especially in Tier 2-3 cities of India. Our aim is to digitize tutoring, for that we are providing focused textbook oriented animated video content. Students generally are afraid of scoring in Math and Science but we want to change this perception by making these subjects easy to learn using animated content that imprints on the young minds,” said Co-Founder and Vice President of 90+ My Tuitions App, Vingish Vijay
“We are in a midst of an Edtech revolution and the pandemic has accelerated the adoption of technology in education overnight. We are excited to partner 90+ My Tuition App’s journey and help them bring about transformative change in how students learn,” said Azmal Jaleel, CEO at Pearl Investment LLC
90+ My Tuition app provides digital tuition to 5th-12th standard students of state education boards. Learners get to learn concepts of Math and Science using animated content and can assess their learnings through self-verifiable evaluation tests available on the app. The app also helps parents track the progress of their child using the ‘Parents Corner’ feature available on the app. Students can download videos and play later without the use of internet.