Former Uber India Chief Bhavik Rathod’s edutech startup Kyt Academy has raised $2.5 Mn or 18 Cr in a seed funding round. Sequoia Surge led the funding while Titan Capital and clutch of angel investors also participated in the round.
KYT academy is a part of the fourth cohort or edition of Sequoia Surge.
What is Sequoia Surge?
Surge is a Sequoia’s bi-annual rapid scale-up or accelerator program dedicated for startups present across India and Southeast Asia. To know about Surge’s third cohort, click here.
KYT academy was launched in July this year to offer live only hobby & extra-circular classes to kids ranging from 5 to 15. The startup, which also has a headquarter in Singapore, has till date enabled roughly 1,000 students to avail its online hobby classes.
The India and Singapore based startups plans to use $2.5 Mn capital infusion for increasing the counts of teachers and adding more courses into its portfolio.
In India the size of primary and secondary extra-circular market is believed to be around $ 10 Bn and $ 200 Bn globally.
Kids and K-12 oriented edutech startups has attracted huge funding traction this year. Byju’s, Vedantu, Topprs and Lattu Kids have managed to pick up huge amount of funding from investors.
WhiteHat Jr, which was bought by Byju’s for $300 Mn earlier this year, also provides online coding classes to K-12 students.
Who is Bhavik Rathod?
Bhavik Rathod was a former Uber India chief. He helmed the role of regional general manager and played a pivotal role in helping Uber to scale its operations across India. He equally played a critical role in ramping up Uber’s presence in Sri Lanka.
In 2017, Rathod was shifted to oversee UberEats India business. Just few months after Rathod bid aideu to Uber, UberEats merged with Zomato