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Homeschooling edTech startup ClassMonitor has raised Rs 3.5 crores as a part of its pre-series A round funding from Indian construction company PATH India Ltd, UAE-based Calega family office investor group, and from Sarvan.
“It will use the fresh funds to build its presence across other nations and strengthen its content and technology for the end-users,” the startup in its statement said.
To date, the company has raised INR 6 crores since its inception in 2016. As part of its angel round, ClassMonitor was backed by Piyush Jain, CFO, Al Hajri group, a notable angel investor having invested in over 25 startups across the globe.
Commenting on the Investment, Vijeet Pandey, Co-Founder & CEO said, “A remarkable component of our societal adjustment during the last one year has been the ability to keep children engaged in educational experiences while away from the classroom. At ClassMonitor, we are combining valuable lessons with interesting tasks that encourage interaction between the kids and the parents. The DIY experience teaches them problem-solving skills and also helps in developing an analytical thinking perspective.”
“Today, we are a team of 100 plus members, aiming to grow to 200 plus with a 20crores ARR by this financial year-end,” Vijeet added.
Speaking on the funding, Mrs. Rishika Agrawal from PATH India Ltd stated, “We at PATH have always been passionate about the education industry and we run a skill development center as well for on-field training of engineering students. ClassMonitor is tapping into the Ed-Tech space while engaging children meaningfully in a holistic fun learning environment. We loved the sheer enthusiasm and the vision of the founders. Our Investment will support ClassMonitor through its entire journey in becoming the pioneer in the education subscription box industry. We see an opportunity to build a global leader in addressing the unique needs of early learning by co-creating products for children, parents, and educators.”