Online music education Startup Spardha raises Rs. 8 Cr in Pre-Series A2 led by Inflection Point Ventures
New Delhi: A unique digital training platform in online music & performing arts, Spardha has raised Rs 8 crore in a Pre-Series A2 round led by Inflection Point Ventures. The round also saw participation from Mumbai Angels & We Founder Circle. The funds raised will be utilized for hiring across sales and operation along with product upgrade. The Company will also be spending funds on brand building & marketing to further expand its presence in the global market.
Ankur Mittal, Co-Founder, Inflection Point Ventures says, “Music has always been a therapeutic tool with multiple health and mental benefits such as enabling creativity, productivity, enhancing concentration, relieving stress and much more. Spardha with its digital training platform has been successful in catering to the need of music loving audiences across age groups starting as early as 5 for beginners to advanced levels of any age. Their futuristic system enables personalized musical journeys for students and trainers in a seamless classroom experience virtually thus effectively bridging the gap of availability, safety and convenience.
He further added, “Spardha with its curated curriculum, certified Trainers & state-of-the-art technology is expanding rapidly, not only in India but also in the international markets and IPV aims to further extend their support to help them achieve their goals”.
Spardha is a digital training platform that leverages curated curriculum, certified Trainers & cutting-edge technology to offer personalized trainer-assisted online lessons to learners. Founders Saurabh Srivastav, Amrita Srivastav & Rikhil Jain have a mission to contribute in the holistic development of millions of students and thousands of trainers globally through this platform. Spardha uses a proprietary system to hire, up skill and manage teachers professionally. This system also enables personalized musical journeys for different student personas in a seamless classroom experience virtually. Spardha is rapidly expanding to the US, UK, Australia, Canada & UAE. They have also increased their revenue by 10x in the last 14 months.
Saurabh Srivastav, Founder & CEO, Spardha shares “In my last 12-month journey with IPV, we received seamless support across various critical functions like Branding, Marketing, Product Development and Execution from IPV. IPV has successfully developed an eco-system where an early-stage startup like Spardha can not only get funded but can also get all required support to achieve its goals. I feel blessed to be a part of IPV. If your concept is powerful & if you are committed to make it a success, you will get all required support at IPV to make it a reality. I would like to thank Team IPV for helping Spardha grow manifold & to expand globally in the last 12 months.”
Spardha has registered around 400+ freelancer teachers in India to support its global delivery model. The industry has a huge untapped potential where the TAM (Total Addressable Market) is estimated to rise to USD 75 billion by 2025. The sector is growing globally at 18.68% CAGR b/n 2021-2026.