Vidyakul closes preseries A round of INR 12 crores led by JITO Angel Network
New Delhi: JITO Angel Network (JAN), the only global community-based Angel network in India, was joined by Nadathur Technologies, Indorama Capital Holdings, Tech Innovations, Veena Munganahalli (Angel investor) and We Founder Circle, in infusing Rs. 12 crores into India’s first vernacular e-learning platform Vidyakul – Bharat Ka Online School. The series was led by JITO Angel Network.
Gurugram-based Vidyakul was born out of research by co-founders Tarun Saini and Raman Garg, who found that the number of state-board students were 10 times that of Central Board of Secondary Education (CBSE) students. However, when it came to the quality of education, state board students were left far behind due to lack of adequate resources in their local languages and lack of access to quality affordable Edtech options.
Vidyakul offers live lectures and pre-recorded courses (from Class 9th – 12th) in Hindi, Gujarati, Bhojpuri and Hinglish to help state board students to learn and achieve their academic goals.
While this is the third time JITO Angel Investors are participating and leading fund raise for Vidyakul, they were joined by Nadathur Technologies, Indorama Capital Holdings, Tech Innovations, Veena Munganahalli and We Founder Circle who endorse the need for quality Edtech for vernacular students pan India and believe in the impact Vidyakul can have in the equitable access and distribution of academic content to all students.
Pooja Mehta, Chief Investment Officer, JITO Angel Network said, “We are proud to associate with a company that aims to make education and access to learning universal in a diverse country like India. The goal ultimately is to support education of minds who will form the bedrock of our country in the Asian century. Vidyakul, with its large content bank and regional focus, has our full confidence.”
Tarun Saini, Founder, Vidyakul said, “We are building a platform, which is tailor-made to suit the needs of individual students, giving them a classroom-like experience. We are thankful to JITO Angel Network for its continued support to Vidyakul by not only investing in all rounds but also assisting in partnerships with various businesse committed to state board students.”
According to India Brand Equity Foundation, the EdTech industry in India is slated to expand at a CAGR of 39.77% to $4 billion by 2025. Of this forecasted value, $ 1.5 billion will be concentrated in the K-12 segment and in pre-preparational and after school foundations courses. Demand for courses from tier II and III cities too will have a major role to play in this growth.