Teachmint, an ed-tech start-up said it has raised $16.5 million in Series A funding led by Learn Capital. The existing investors are Better Capital Lightspeed and also participated in the round, even CM ventures.
The new funding series of capital is expected to be used for hiring talent, R&D on teaching technology, and more strategic acquisitions, and better market expansion.
The platform is Bengaluru-based and enables teachers to digitize their classrooms, currently having more than 700,000 teachers on its platform.
In the recent statement, it has been said- “This is Teachmint’s third round of investments within 10 months of its launch in May 2020. And also making it the fastest tech start-up to raise more than $20 million capital”.
The investor Learn Capital is a San Francisco-based venture capital firm that made early investments in top tech firms namely Udemy, Brainly, and Coursera.
Meanwhile, the CEO and co-founder Mihir Gupta said- “Startups are building great products in education and we would love to partner with some of them in taking their products to the larger audience”.
He further added- “Learn brings along Global experience across different locations with investments in the US Europe and Asia. Their insights will add a lot of value as we look at global markets”.
Several tech start-ups caught the attention of global Investors. For instance, upGrad has nabbed $120 million led by Temasek, and Lead School raised $30 million in Series D funding led by GSV Ventures.
The report says that the current Indian ed-tech space for the marketplace is projected to become a 30 billion dollar industry by 2032.
