uFaber announces unique support initiative for Indian early stage edtech startups
uFaber, among India’s handful of profitable, bootstrapped edtech start-ups boasting revenue run rate of Rs. 100 crore is doing something unique and first of its kind. What the current euphoria around unicorns being minted by the week and there being few in the edtech space itself (including a decacorn) hides is a harsh reality. There are dozens of edtech who are struggling with product-market fit, go-to-market, scaling and host of other challenges. Most fall between the edges and out of the purview of the VC and investment ecosystem as well. But their success or scaling will change and impact the overall Indian edtech ecosystem positively.
“uFaber and its founding team having scaled to 100 crores in revenues entirely on its own with very little of external funding, know intimately the on-ground intricacies involved in getting there. We both also have exited successfully our previous edtech venture so we have a view of the whole cycle as well. Being passionate about the education space and how it needs to go beyond the curriculum, we are actively seeking ways in which to contribute. The initiative to support early stage start-ups with money, our infrastructure, our knowledge and our channels/reach is borne out of the above desire. We have already committed Rs. 10 crore to this initiative and if needed we are open to scaling that further,” said Rohit Jain, Co-founder & CEO, uFaber.
With over 2 lakh annual student enrolments, 500+ school and university partners across India, and 3000+ all women army of work from home trainers and a revenue run rate of Rs.100 crore, uFaber brings to the table a clear and significant advantage to the interested start-ups.
“We have already identified 2-3 start-ups with whom the conversations have started and we hope to conclude them quickly in the next month or two on the outer side. If and when the opportunity presents, we are also open to acquiring the start-up, integrating them into us entirely. we are also open to other collaboration models like acquihire, etc.,” Rohit further added.
Founded in 2015 by two IIT-Mumbai engineers who between them had 25 years of EdTech experience by then, uFaber is among India’s few bootstrapped and profitable EdTech ventures that closed FY 20-21 with Rs. 35 crores in revenues, 1 million learners, and 60000+ subscribers. Its team right from the founders, to counselors and mentors, is driven by the common purpose of creating and sustaining a culture of learning/growth. uFaber has an all-women working from a home panel of eMaester trainers, who are self-driven and want to make a positive impact in their learners’ lives. It’s a market leader in the IELTS coaching space (IELTSNinja), has a growing footprint in the UPSC (UPSC Pathshala), Real School for the K-12 segment, and FluentLife – a high growth offering for early career professionals and final year students that improves fluency in business English for interview preparation, eliminating the obstruction to personal and professional development.