Edtech startup Bodhi AI has raised $200K from Hyderabad-based The Marwari Angels (MAAN), Founders Angel Network (FAN), JIIF Shark Angels (JSA), UIncept, Ivy Growth, and POD. Angel investors Harsh Pokharna and Bhola Meena have also participated in this round.
According to BodhAI, the proceeds will be used to help teachers grow their student base and increase their income online. Founded by Prashant Pandey and Piyush Agarwal, Bodhi AI connects teachers and students virtually and offers features like instat doubt clearing and tech solutions for teachers and educational institutes.
It also allows teachers to sell courses and claims to have a million students using its platform. In March 2022, the Jaipur-based company acquired a Kota-based edtech startup Skoolstream. The company competes with Teachmint which raised $78 million and Classplus that also cornered $80 million at around $600 million valuation.
According to Entrackr‘s report on edtech, funding in edtech startups plummeted from $5.82 billion in 2021 to $2 billion in 2022 till August 15. However, it saw a sign of revival since then with Byju’s $250 million round, Sunstone and Adda247’s $35 million and Bhanzu’s $15 million round.
Despite the funding crunch, mergers and acquisitions in edtech have continued with UpGrad emerging a top acquirer. The Mumbai-based firm acquired seven startups this year followed by PhyiscsWallah’s three acquisitions whereas Unacademy acquired Gate Academy for an undisclosed sum. Vedantu also acquired a majority stake in Deeksha for $40 million to strengthen its offline play.