Over a dozen of serial entrepreneurs have raised fund for their new startups in the past year. The list includes Kunal Shah, Jitendra Gupta, Ashish Kashyap, Pankaj Chaddah, Ravish Naresh, Amit Lakhotia and many others. Vedantu’s co-founder Saurabh Saxena, after exiting the Tiger Global-backed company, also joined the club with the fundraising for his new gig: Uable.
Saxena’s new startup, which also deals in edtech segment announced an undisclosed amount of investment in July led by 3one4 Capital. Entrackr has decoded the details of the round with regulatory filings.
As per the filings, it had scored Rs 4.4 crore led by Pai family’s VC firm has pumped in Rs 1.91 crore followed by AL Trust, which put in Rs 1.52 crore in Uable. About 56 angel investors also participated in the round through Inflection Point Ventures.
The Bengaluru-based company has allotted 16,233 seed CCPS to raise the sum mentioned above from these investors. Global Founders Capital and Angelist also said to have made participation in the round.
According to Fintrackr estimate, Uable has been valued at around Rs 32 crore in its first round.
Uable is an online life-skills development platform for 6 to 14-year-olds that helps them to discover and develop their creative potential. Claims to provide a personalised and peer-to-peer learning experience to every child, its programs focus on offering access to roles such as author, entrepreneur, journalist, detective, programmer, YouTuber and astronaut across domains such as science, art, design, coding and communication.
Uable also runs free workshops, which include 45-minute online learning experience for children and a 15-minute discussion session for parents.
After dilution in the seed round, Uable controls a little over 86% stake in the company followed by 3one4 Capital’s 6.02% stake. AL Trust and all other angel investors collectively have around 8% holding in the company.