Teachmint Technologies Pvt Ltd, which operates an education-technology startup focussed on tutors and tutor-student connectivity, has raised a sum as part of its first funding round.
In a statement, Bengaluru-based Teachmint said the exercise has been led by early-stage investor Better Capital, with participation from Titan Capital, the venture firm set up by Snapdeal co-founders Kunal Bahl and Rohit Bansal.
The sum involved was not disclosed.
Teachmint was set up by Mihir Gupta, Payoj Jain, Divyansh Barodia, and Anshuman Kumar. The four were previously associated with firms and startups including McKinsey, Roposo, Open, OYO, and Swiggy.
Teachmint says its platform helps empower tutors by providing them tools to deliver effective learning outcomes for both parents and students.
It has also launched a mobile-first video application that helps tutors to digitise their business and classes through features such as a business management workflow for attendance, tests, and content creation.
It will use the capital it has raised to enhance its product and technological infrastructure, as well as expand its presence to all parts of the country.
“The rapid adoption of Teachmint by tutors across categories is a testament to the intensity of the need as well as the finesse of the product,” Better Capital founder and chief executive officer Vaibhav Domkundwar said.
Teachmint says it currently has a presence across 300 cities, and that it has crossed the 25,000-user mark within just weeks of its launch.
Deals in edtech
Some of the biggest names in India’s ed-tech space – Byju’s, Unacademy, Toppr and Vedantu – continue to raise capital and have started making acquisitions.
Early- and mid-stage funding deals in the space continue to take place.
Last week, online climate school Terra.do Inc. raised $1.4 million (Rs 10 crore) in seed funding led by a few early-stage investment firms, including Beenext, technology-focused fund Rainmatter Capital and Stanford Angels & Entrepreneurs (India).
In July, vernacular language-focussed platform Entri raised an additional $1.7 million (around Rs 12.71 crore) as part of its pre-Series A funding round. The Kochi-based company has raised a total of $3.1 million in this capital exercise, it said in a statement.
In June, the ed-tech arm of Sai Estate Consultants Chembur Pvt. Ltd raised funding from actor Suniel Shetty while Edvizo Media Pvt. Ltd secured capital from Inflection Point Ventures.