Bengaluru-based Kings Learning, an Indian edtech startup for English learning, has raised $2.5 million in funding from Michael & Susan Dell Foundation, together with other US-based tech investors.
The investment news comes soon after the announcement of setting up an incubation center in India by Michael and Susan Dell Foundation. The foundation is in talks with IIM-Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE).
“We are excited to partner with our investors as we move into the next phase of our growth which will primarily be focused on scaling up our offerings like Enguru, strengthening our technology and analytics engine and expanding the Kings Learning team,” said Arshan Vakil, co-founder, Kings Learning, reported ET.
One of its products, Enguru, a mobile-based spoken English app, allows users to self-learn both general spoken English and conversational English that would make them employable.
It also allows users to learn English in their native language and currently supports 28 different languages. The app has been downloaded about 2 million times till date, and is currently being used to improve spoken English skills by more than 120,000 active users monthly.
According to Prachi Windlass, Education Director, India, Michael & Susan Dell Foundation, English has become a ticket to enter the booming knowledge-driven job economy of India, however, a few have access to quality English language training.
A bunch of Edtech startups have raised funding over the past one year. In April, Mumbai-based Haygot Education Pvt. Ltd, which runs ed-tech startup Toppr, raised Rs 2.16 crore (around $336,000) in a bridge round. Another startup Cuemath, raised Rs 102 crore in Series B funding from CapitalG and existing investor Sequoia India.
Last month India’s leading edtech startup Byju’s had bagged a new round of funding from Chinese internet major Tencent Holdings Limited.
According to a joint report by Google and consultancy firm KPMG, India’s online education industry is expected to grow almost eight times to hit $1.96 billion by 2021, with the number of paid users rising six-fold from 1.6 million now to 9.6 million.
Kings Learning: website