3rdFlix Visual Effects Pvt Ltd, which operates edtech startup Practically, announced on Tuesday that it has raised $4 Mn in a pre-series B funding round. Siana Capital spearheaded the round while existing investors YourNest Venture Capital and Exfinity Ventures had also participated in the round.
The company said in the press release that it will use the funds to consolidate its market position in Andhra Pradesh and Telangana. Simultaneously, Practically will also make effort to increase pan-India presence.
Following the latest funding round, Practically has now raised $9 MN till date. The startup had raised $5 Mn in 2019 as part of the series A round.
Practically is essentially an interactive and immersive learning app that brings learning alive through immersive videos, interactive augmented reality and 3D simulations. The startup claims that its unique features like life-like video content, hands-on learning & experiential learning helps in enhancing student’s conceptual understanding and improving retention of concepts.
Speaking on the successful funding round, Mr. Subbarao Siddabattula, Founder & CEO, Practically said, “This pre-Series B funding showcases the extreme faith our investors have reposed on Practically. The tremendous response that we are seeing for Practically from schools, administration, faculty, parents and students validates our model.”
“Our progress so far is in-line with our strategic growth plans and we are very well placed to tap the accelerated growth that the EdTech industry is witnessing today.”
The company was founded in 2018 by Mr. Subbarao Siddabattula, Ms. Charu Noheria and Ilangovel Thulasimani.
Practically competes with well-funded and big players like Byju’s, Vedantu and Topprs. All these competitors have raised big ticket funding rounds in 2020. While COVID-19 ravaged the entire global economy, edtech sector managed to remain immune to the pandemic’s devastating impact.
In fact, with pandemic forcing millions of students to go online, investors poured a huge amount of capital in the edtech sector.