ClassMonior, an homeschooling edtech startup, announced on Wednesday that it has raised INR 3.5 Cr as part of its pre-series A funding round. The Indian construction company PATH India LTD and clutch of gulf based investors participated in the funding round. Prior to this round, the Indore based startup had raised nearly Rs 2.5 Cr as part of its angel funding round.
ClassMonitor essentially provides DIY kits for preschoolers to augment and promote essential learning skills among small kids (age group 0-8). Having started as a messaging platform for parents and teachers, ClassMonitor made a pivot in 2018 to foray into home schooling space. Like all edtech startups, Class Monitor is seeking to leverage the lockdown situation, which has locked up all educational institutes including pre-schools.
The startup claims that India is home to 165 million children in the 0-5 years age group who have lost out on early childhood learning as pre-schools continue to remain close due to lockdown.
Commenting on the pre-series A funding, Vijeet Pandey, Co-Founder & CEO said, “A remarkable component of our societal adjustment during the last one year has been the ability to keep children engaged in educational experiences while away from the classroom.”
“At ClassMonitor, we are combining valuable lessons with interesting tasks that encourage interaction between the kids and the parents. The DIY experience teaches them problem-solving skills and also helps in developing an analytical thinking perspective.”
The Indore based start touts that it has been profitable for the last 14 months and is aiming to go for 20 crores ARR by this financial year end. It has generated INR 7CR net revenue since the product launch in Oct 2018 and has 5,000 paid customers among its nearly 50,000 subscribers, the company said in its press release.
Apart from India, the Indore based startup also has footprints in 12 other countries.