Exclusive: Seekho app set to raise $8-10 Mn from Lightspeed and Elevation

Learning-focused OTT platform Seekho is in the advanced stages of raising up to $10 million in a new funding round, according to sources familiar with the matter. This marks a consecutive round of funding for the Bengaluru-based company within a span of less than 18 months.

"Seekho is looking to raise $8-10 million in Series A round, with Lightspeed and Elevation leading the investment," said a source on condition of anonymity. It raised $3 million from Elevation and other investors in March of last year.

Launched in 2020 by Rohit Choudhary, Keertay Agarwal, and Yash Banwani, Seekho helps people gain new skills and knowledge. It offers a variety of courses to prepare learners for jobs in different fields including parenting, share market, Instagram, and education, among others.

Designed for tier II and beyond, its educational content includes concise 2-5 minute videos. These videos are structured in episodic series, providing valuable insights without overwhelming the audience. Seekho offers monthly and weekly subscription plans.

"The terms of the deal have been finalized, and if nothing goes wrong at the last moment, the transaction will be executed soon," said another source who wished to remain anonymous. "Seekho will be valued at around $45 million as two investors are looking to acquire 20% of the company."

Elevation Capital's confidence in the three-year-old startup Seekho is evident from its decision to co-lead the new round. According to the VC firm, around 30% of Seekho users have opted for annual plans, suggesting that the platform's popularity is not just a fleeting trend.

Queries sent to Seekho, Elevation and Lightspeed did not elicit an immediate response. We’ll update the post in case they do.

As per startup data intelligence platform TheKredible, Elevation Capital acquired nearly 24% stake in the company after Series A round. All three co-founders have 16.65% stake each.