Edtech platform Creative Galileo Edtech Pvt Ltd on Thursday said it has raised $7.5 million in a Series A funding round from Kalaari Capital, Affirma Capital, East Ventures, Valiant Employee Investment Fund and angel investors.
The startup will use the fresh capital to hire and strengthen its research and development platform, it said in a statement. It will also deploy the funding to introduce regional languages to make multilingual platform, it added.
Creative Galileo, founded in July 2020 by Prerna A Jhunjhunwala and Nikhil Naik, is a character-based early learning platform for kids in the age bracket of 3-10. The startup has tied up with more than 20 content studios in the country. It also recently made an international alliance with educational content specialist broadcasting company EBS Korea. The startup also has plans to expand in Southeast Asia, it added.
"We want to enable bespoke learning for children across the globe through their favourite characters to strengthen their foundation during their early years, which will also help develop and strengthen critical thinking, confidence, cognitive skills, and emotional intelligence," said Prerna Jhunjhunwala, founder, Creative Galileo.
Vani Kola, managing director, Kalaari Capital, noted that Creative Galileo has achieved strong growth with low marketing spends in the last six months.
Prior to this funding round, Creative Galileo raised $2.5 million led by Kalaari Capital in October last year. Kalaari Capital had backed the startup through its CXO program.
The edtech segment in India witnessed a funding boom since the onset of coronavirus pandemic in March 2020. However, the segment is seeing some tumultuous days in the wake of a funding crunch and opening of offline schools as the virus recedes. Heavily funded startups such as Unacademy, Vedantu as well Byju's subsidiaries like WhiteHat Jr and Toppr laid off staff in the past months.
Still, both early stage and growth stage funding in the segment hasn't dried up totally. Just last month, Leap, an overseas education-focused guidance and financing platform, secured $75 million in a Series D funding round led by Silicon Valley-based Owl Ventures.
Earlier this month, Bengaluru-based business-to-business (B2B) edtech startup AntWalk snagged a Series A funding of $7.5 million (around Rs 58.5 crore) led by GSV Ventures.
