Bengaluru based edutech startup Winuall on Monday raised second round of funds from investors. The startup, however, did not disclose the amount it raised from the investors. Winuall’s latest fundraising comes barely two months after it raised seed funding from Ola’s co-founder Ankit Bhatia, Milkbasket’s Head of Engineering Nitin Gupta along with other angel investors.
The company said that it will use the latest funds to bring to more than 100,000 teachers & coaching classes on board whose income earnings have been badly hit by the ongoing pandemic crisis. The startup said that during the preceding months it has help scores of solo teachers and coaching classes to go digital.
Ramakant Sharma, Cofounder Livspace and Amit Lakhotia, Cofounder Park+ & ex-VP PayTM Business, spearheaded the latest funding round. Akash Gehani (Cofounder, Instamojo), Abhinav Patwa (VP, Onsitego), and existing investors Ankit Bhati (Cofounder, Ola) and Nitin Gupta (Head of Engineering, Milkbasket) also took part in the round.
Ramakant Sharma, Co-founder Livspace, said, “Online education is not new in the year of 2020. Talking just about India, the market value of education is more than $100 billion, and it is expected to see a rise of double in under a decade. Hence, it is time for the tutors to come up on the web and explore the opportunities.”
Ashwini Purohit, Founder of Winuall, commented “Our SaaS business is already on the fast growth and profitability path. We aim to empower more than 100,000 tutors in the next 2-3 months to become the Shopify for tutors.”
He further added that we will continue to scale SaaS business and explore other levels of growth, such as providing tutors with an e-commerce store and financial aids.
Winuall essentially helps coaching classes and solo teacher to go digital/online and gives them the platform not only to increase their earnings but also to improve the academic performance of the students. Apart from helping in digital adoption, it also manages entire end-to-end operations with inbuilt features that include live classes, insights about students performance, digital library etc.
While most sectors have suffered due to the ongoing pandemic, edutech sector continues to stand resilient as investors poured huge capital in the online education sector during the first seven months of the current financial year.