Class Monitor, an edtech startup focused on kids and parents has raised Rs 3.5 crore ($477,700) in a pre-Series A fundraising round from India and Gulf Investors.

Vijeet Pandey, co-founder, and chief operating officer, said the funds were raised from Indian construction firm Path Ltd, the UAE-based Calega family office, and Sarvann, a collection of Oman-based investors.

Riseom Solutions Pvt Ltd, which runs ClassMonitor, will utilize the funding to expand its content and marketing activities, he added.

Pandey and Vikas Rishishwar started the firm in 2016. Since its establishment, the company has raised more than Rs 6 crore. According to Pandey, it raised capital in its angel and seed rounds from individuals such as a Swedish scientist and Piyush Jain, who has invested in over 25 startups in the previous two years.

The Indore based startup is India's finest mobile platform for early education for parents of young preschoolers.

Pandey went on to say that when he first began the company in 2016, he wasn't sure what significant problem he was trying to solve in education. After seeing parents and teachers utilising WhatsApp to talk about their children, he decided to launch the company as a parent-teacher communication network. “I thought that was an unprofessional way to do it,” he said.

The company succeeded to onboard 150+ schools in Indore and Ahmedabad in the first eight months after its inception in July 2016. He and his co-founder, on the other hand, didn't stop there; they kept looking for a bigger problem.
The firm launched its technology and physical kit solutions in October 2018. According to Pandey, the company's revenues have surpassed Rs 7 crore since then. And the firm, which is currently adding 5,000 users every month, plans to increase that number to 20,000 by February of next year.

The company is currently active in over 1,000 cities across India and has a presence in over 12 countries. He further stated that top cities in India account for 65 percent of revenue.

Pandey stated that the company is in discussion with venture capital firms for a Series A investment round, but that it is not in a rush to acquire new funds since it wants to focus on reaching short- to medium-term goals.

After the COVID-19 pandemic prompted a boom in demand for online learning platforms and solutions, the edtech sector has been gaining more investor attention.