Edtech firm Cuemath has raised $40 million in series C funding round which was co-led by Lightstone Fund (LGT Lightstone Aspada) and Falcon Edge’s Alpha Wave Incubation.

The round also saw participation from existing investors CapitalG (Google’s venture capital arm), Sequoia Capital and Manta Ray Ventures. The current round comes almost a year after Cuemath had raised $5.5 million in an extended Series B round led by Manta Ray Ventures.

Founded in 2011 by Jagjit Khurma and his son Manan Khurma, a renowned teacher, Cuemath provides technology-driven after-school math learning programs for students from grade 1 to 10. The company ties up with homemakers to run home-based learning centers for students.

Cuemath trains and certifies its home tutors who teach using course content that has been created by math experts from institutions such as the IITs, IIMs, Cambridge University and Stanford University.

Typically a math class is divided with 45 minutes to work on understanding concepts with the home tutors, 10 minutes on improving solving speed and 5 minutes on understanding the math puzzles. All classes are currently being conducted virtually.

With classes being available throughout Bangalore, Delhi NCR, Chennai, Hyderabad, Mumbai, Kolkata and Pune, Cuemath has developed over 300 math excellence centres in each of these cities. The company claims to have conducted over 25 million math classes so far for more than 40 k students.