Edtech startup Eupheus Learning has raised an undisclosed amount of investment from Sixth Sense Ventures. This is the first investment for Nikhil Vora led venture firm, from its second fund of Sixth Sense Ventures.
With this fresh round, Eupheus plans to expand its presence to south India, and scale up its operations.
Just a ten-month-old Eupheus is the brainchild of Sarvesh Shrivastava, Rohit Dhar, Ved Prakash Khatri, and Amit Kapoor. The platform provides learning solutions like an interactive story using books or robotics and coding. These services are offered on a subscription basis, and the solutions can be bought as a bundle or as a standalone service.
Queries sent to Eupheus Learning by Entrackr did not elicit any response. We will update the post as response comes in.
The Delhi-based company has partnered with various international companies such as Sanako, Fiction Express, World Book and Robo Garden to curate edtech products.
Eupheus Learning claims to have a presence in over 1,500 schools across the country. Notably, it has clocked revenues of Rs 1.5 crore until December 2017 and is projecting to achieve Rs 18 crore revenue by the end of this year.
The company which has reached out to close almost 9 lakh students is planning to craft an impact in more than seven million students’ lives over the next five years. Currently, it serves to schools in north, east and central India and aims to expand its school base in South India this year also.
Over the past one year, several edtech startups had raised capital. In January, CollPoll raised an undisclosed amount in pre-Series A round while in November last year alone, four edtech platforms had secured risk capital.
Online recruitment major Info Edge had invested about Rs 44 crore in online learning platform Meritnation and Delhi-based NoPaperForms.
In edtech segment, Tencent-backed Byju’s is the leading digital platform in the country followed by Meritnation, Unacademy amongst a few others. Last year, the Tencent-backed company had acquired global education company TutorVista from Pearson and Edurite for an undisclosed amount.
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.
The funding story was first reported by The Times of India