Saarthi Pedagogy Pvt Ltd, which runs edtech startup Saarthi Pedagogy, said it has secured pre-series A funding of Rs 16 crore (around $2.1 million) from Pinnacle Investments.
Pinnacle is the family office of promoter Irfan Razack and Chief Executive Officer (CEO) Venkat K Narayana of the real estate group Prestige.
The fresh proceeds will be used by the Ahmedabad-based startup to boost products, ramp up teams across technology and content creation, as well as to expand its sales footprint.
"We look forward to building a sustainable and capital-efficient edtech business that will truly impact the lives of millions of students studying in affordable schools in India," said Sushil Agrawal, Founder and CEO of Saarthi Pedagogy.
Saarthi Pedagogy focuses on India’s K-12 education system by helping affordable schools bridge the digital gap through an innovative technology platform.
It claims to cater to 850 schools and 85,000 students and expects to sign up around 2,000 schools and 2,00,000 students for the academic year 2022-23.
Last year, the platform had raised $1 million (around Rs 8 crore) from JITO Angel Network, LetsVenture, Ecosystem Ventures, among other investors.
Recently, VCCircle reported that online edtech platforms are still preferred by the country's teaching professionals despite traditional educational institutions resuming offline classes after the onset of the covid19 pandemic.
According to Research and Markets, the worldwide education technology business is undergoing a digital transition, with up to 130% growth forecast by 2027, which would benefit people from all socioeconomic and geographic origins.
India's edtech sector is expected to grow at a CAGR (compound annual growth rate) of over 15% from $2.8 billion in 2020 to $30 billion in 2030, making it the world's most active edtech market, as per a BLinC Investment Management report.
