Edtech Company Teachmint raises $16.5 million in a funding round led by Learn Capital
Teachmint, an edtech company, has announced a $16.5 million Series A round led by Learn Capital. Existing investors Lightspeed and Better Capital, as well as CM Ventures, took part in the round.
The new funds will be used to hire new employees, conduct research and development on teaching technologies, make strategic acquisitions, and expand the company's business.
Teachers can use the Bengaluru-based startup to digitalize their classrooms. On its website, it claims to have over 7,00,000 students.
"This is Teachmint’s third round of investments within 10 months of its launch in May 2020, making it the fastest edtech startup in India to raise more than $20 million in the capital,” it said in a press statement.
Learn Capital is a venture capital company based in the San Francisco Bay Area that has made early investments in companies such as Coursera, Udemy, and Brainly.
“There are startups building great products in education and we would love to partner with some of them in taking their products to the larger audience,” said Mihir Gupta, co-founder, and CEO, Teachmint.
“Learn brings along global experience across geographies with investments in the US, Europe, and Asia. Their insights will add a lot of value as we look at global markets,” he said.
The Indian edtech sector has piqued the interest of international investors. Lead School raised $30 million in Series D funding led by Silicon Valley-based GSV Ventures, while upGrad recently raised $120 million led by Singapore government-owned investment company Temasek.
According to a recent report published by transaction advisory firm RBSA Advisors, the Indian edtech industry is expected to grow to $30 billion by 2032. The market is currently valued at $700-800 million dollars.
Teachmint is a comprehensive education technology platform designed especially for today's remote tutors. The platform focuses on developing a truly interactive online environment by combining live classes, student interaction tools, and numerous other classroom facilitating features.
The new funds will be used to hire new employees, conduct research and development on teaching technologies, make strategic acquisitions, and expand the company's business.
Teachers can use the Bengaluru-based startup to digitalize their classrooms. On its website, it claims to have over 7,00,000 students.
"This is Teachmint’s third round of investments within 10 months of its launch in May 2020, making it the fastest edtech startup in India to raise more than $20 million in the capital,” it said in a press statement.
Learn Capital is a venture capital company based in the San Francisco Bay Area that has made early investments in companies such as Coursera, Udemy, and Brainly.
“There are startups building great products in education and we would love to partner with some of them in taking their products to the larger audience,” said Mihir Gupta, co-founder, and CEO, Teachmint.
“Learn brings along global experience across geographies with investments in the US, Europe, and Asia. Their insights will add a lot of value as we look at global markets,” he said.
The Indian edtech sector has piqued the interest of international investors. Lead School raised $30 million in Series D funding led by Silicon Valley-based GSV Ventures, while upGrad recently raised $120 million led by Singapore government-owned investment company Temasek.
According to a recent report published by transaction advisory firm RBSA Advisors, the Indian edtech industry is expected to grow to $30 billion by 2032. The market is currently valued at $700-800 million dollars.
Teachmint is a comprehensive education technology platform designed especially for today's remote tutors. The platform focuses on developing a truly interactive online environment by combining live classes, student interaction tools, and numerous other classroom facilitating features.
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