EdTech startup WizKlub secures Rs 7 crore from Incubate Fund India and Insitor Impact Asia Fund

Bengaluru -based edtech startup, WizKlub has announced that “It has raised Rs 7 crore in series seed round funding from Japan’s early-stage VC Fund, Incubate Fund India.”

In a statement the company said “The new round funding which was led by Incubate Fund India has also saw the participation of Singapore-based VC firm Insitor Impact Asia Fund, which now draws the total fundraise at Rs 9 crores.”

“The company will add the new round funding for a product, and market expansion,” it added.

Founded in February 2018 by Amit Bansal, WizKlub is an edtech startup that uses a Higher Order Thinking program (HOTS), and SmartTech programs to develop cognitive skills in school students of age between 5-15 years old, through its AI-powered tech platform.

Commenting on the investment, Nao Murakami, Incubate Fund India, said, “After-school-education for K6 segment in India has been highly fragmented. At the same time, the rise of the middle class allows parents in urban India to start thinking seriously about giving quality after-school-education to their kids.”

“So, the platforms like WizKlub, which provide standardized quality and easy access to after-school-education has waited for a long time among parents of K6 students,” he said.

“As WizKlub’s model is highly scalable and monetizable, we strongly believe that they will create a great impact on Indian K6 education space,” Nao Added.

Speaking on the fundraise, Amit Bansal, Founder & CEO, WizKlub said “Supplemental education beyond the curriculum is the greatest need in the Indian education system today and we are addressing this area with our research-based learning programs. Technology is transforming the world at an unprecedented pace, which necessitates children of this generation to be lifelong learners and adept problem solvers.”

“Our HOTS and SmartTech programs are designed for maximum impact in these areas. We are grateful to our investors for supporting our efforts to empower young children to succeed in this rapidly changing world,” he added.

Adding to the statement, Abhijit Nath, Insitor Impact Asia Fund, said, “Insitor is excited to partner with WizKlub on their journey to transform education from rote based learning to building cognitive and critical thinking skills. The team is focused on creating a holistic approach to education through an affordable, structured and outcome-based learning solution.”