Teachmint, which help teachers to digitize their classrooms, has raised $78 Bn in a Series B round. Rocketship.vc and Vulcan Capital spearheaded the round while new investors Goodwater Capital and Epiq Capital joined company’s cap table. Existing investors Learn Capital, CM Ventures, Lightspeed India and Better Capital also double down their investment in the company.
The latest funding round has brought the Bengaluru based startup’s funding to nearly $118 Mn. The current round is its fifth funding round. The company claims that this is the fastest such capital raise by an Indian startup in the education space. It said that the latest capital infusion will be used to consolidate its proprietary classroom technology and increase its footprints across international markets. The company also said that it will soon announce its largest ESOP buyback plan to reward and recognize the contributions of its team.
Apart from supporting teachers with it’s mobile-first teaching platform, Teachmint has also expanded its offering by launching new products products like Teachmint for Institute and Education Video-as-a-Service.
Commenting about the latest funding round, Mihir Gupta, Co-founder & CEO at Teachmint said, “Since inception, we have been laser-focused on addressing the big technology-infrastructure gap that exists in education. Over the past 16 months, we have been humbled by the experience of powering the teaching and learning infrastructure for millions of teachers and students across India. From supporting individual teachers to powering K-12 schools, coaching institutes, colleges, universities and even EdTechs, we are disrupting technology penetration in education at an unprecedented pace.”
He further added “We are thrilled to welcome onboard Rocketship.vc and Vulcan Capital along with Goodwater Capital and Epiq Capital. We are also grateful to have the continuous support of our existing investors as we execute our vision at the global stage.”
Teachmint competes with Tiger Global backed Classplus. In June this year, Classplus had raised $65 Mn in from Tiger Global, GSV Ventures and AWI.