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Education start-ups in India seem to be the hottest targets right now, going by the kind of <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> they are attracting from local and global investors. A couple of days ago, Delhi-based start-up <keyword id="1974964" type="UNKNOWN" weightage="100" keywordseo="Avanti-Learning-Centres">Avanti Learning Centres</keyword> raised an undisclosed amount in <keyword id="948731" type="UNKNOWN" weightage="100" keywordseo="seed-funding">seed funding</keyword> from <keyword id="1894311" type="UNKNOWN" weightage="100" keywordseo="Pearson-Affordable-Learning-Fund">Pearson Affordable Learning Fund</keyword> (<keyword id="1954796" type="UNKNOWN" weightage="100" keywordseo="PALF">PALF</keyword>). Two more <keyword id="6365770" type="UNKNOWN" weightage="100" keywordseo="angel-investors">angel investors</keyword> also took part in the round. Avanti will use the <keyword id="1974977" type="UNKNOWN" weightage="100" keywordseo="Seed-round">seed round</keyword> to develop an <keyword id="1974975" type="UNKNOWN" weightage="100" keywordseo="Online-offline-learning">online-offline learning</keyword> &amp; monitoring system, create more <keyword id="755302" type="UNKNOWN" weightage="100" keywordseo="educational-content">educational content</keyword> and build new <keyword id="68244" type="UNKNOWN" weightage="100" keywordseo="Learning-centres">learning centres</keyword>. Currently, the <keyword id="1044076" type="UNKNOWN" weightage="100" keywordseo="education-start-up">education start-up</keyword> operates stand-alone and in-school centres in Delhi, Mumbai, Chennai, Kanpur, Roorkee and Puducherry, besides helping the <keyword id="3216" type="ORGANIZATION" weightage="100" keywordseo="students">students</keyword> in three Tibetan schools in Uttarakhand and Karnataka. 
 
This is the second investment in India that Pearson has made through PALF, and the third overall since the fund was launched in July 2012. 
 In November this year, <keyword id="1954793" type="POSITION" weightage="100" keywordseo="Global-education-leader">Global education leader</keyword> Pearson’s inaugural <a href="http://www.businessinsider.in/These-2-Peer-selected-Start-upsShared-150K-Investment-To-Boost-Low-cost-Education/articleshow/26512179.cms">edupreneur programme</a>, jointly launched by PALF and US-based investor Village Capital, came to a close with <keyword id="1954794" type="UNKNOWN" weightage="80" keywordseo="Experifun">Experifun</keyword> and <keyword id="1467859" type="COMPANY" weightage="80" keywordseo="Sudiksha-Knowledge-Solutions">Sudiksha Knowledge Solutions</keyword> walking off with a seed funding of $75,000 each. The <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> will enable the start-ups to further develop their low-cost education ventures and assist underprivileged school children. 
 Pearson launched PALF in July 2012 with a capital of $15 million. Investments are made into private companies that offer <keyword id="1974987" type="UNKNOWN" weightage="100" keywordseo="Affordable-educational-services">affordable educational services</keyword> and schooling in Asia, <keyword id="12925" type="ENTERTAINMENT" weightage="80" keywordseo="Africa">Africa</keyword> and Latin America. 
 Set up as a <keyword id="456748" type="UNKNOWN" weightage="100" keywordseo="non-profit">non-profit</keyword> in March 2010 by <keyword id="258061" type="PERSON" weightage="100" keywordseo="Akshay-Saxena">Akshay Saxena</keyword> and <keyword id="1974967" type="UNKNOWN" weightage="100" keywordseo="Krishna-Ramkumar">Krishna Ramkumar</keyword>, Avanti Learning Centres supports students from low-income families (those with a family income of $5,000 per annum or below) and prepares them for <keyword id="1974989" type="UNKNOWN" weightage="100" keywordseo="College-entrance-exams">college entrance exams</keyword>, especially the highly competitive engineering and medical entrance tests. Students can study up to 18 hours a week at a centre and need to pay only $20 per month. Costs are kept low as a large network of volunteers and partners, including universities, public schools, policy makers and private sector businesses, help with teaching and administration. 
 Instead of traditional lectures, Avanti follows a comprehensive programme including <keyword id="1951606" type="UNKNOWN" weightage="100" keywordseo="book-learning">book learning</keyword>, <keyword id="144248" type="ENTERTAINMENT" weightage="100" keywordseo="Videos">videos</keyword>, <keyword id="1974990" type="UNKNOWN" weightage="100" keywordseo="Peer-learning">peer learning</keyword> (developed by Dr <keyword id="1974994" type="UNKNOWN" weightage="100" keywordseo="Eric-Mazur">Eric Mazur</keyword>, the company’s chief academic advisor and a physics professor at <keyword id="53675" type="ORGANIZATION" weightage="80" keywordseo="harvard">Harvard</keyword>), <keyword id="956032" type="PERSON" weightage="100" keywordseo="Self-study">self study</keyword> &amp; <keyword id="969316" type="UNKNOWN" weightage="100" keywordseo="group-work">group work</keyword>, <keyword id="1974991" type="UNKNOWN" weightage="100" keywordseo="Recorded-lectures">recorded lectures</keyword>, <keyword id="140811" type="UNKNOWN" weightage="100" keywordseo="mentoring">mentoring</keyword> and doubt-solving. Students are enrolled after a highly selective two-stage process. 
 “It was the commitment from Akshay and Krishna to focus on improving the <keyword id="1974995" type="UNKNOWN" weightage="100" keywordseo="Education-of-low-income-communities">education of low-income communities</keyword>, combined with an <keyword id="1974993" type="UNKNOWN" weightage="100" keywordseo="Innovative-learning-model">innovative learning model</keyword>, which was the most attractive aspect of the <keyword id="718769" type="ORGANIZATION" weightage="100" keywordseo="investment-opportunity">investment opportunity</keyword>,” said PALF executive director, <keyword id="1974962" type="UNKNOWN" weightage="100" keywordseo="Katelyn-Donnelly">Katelyn Donnelly</keyword>. 
 “Avanti is particularly exciting because it is a non-traditional pedagogy with very strong initial results. Our investment allows us to partner with a mission-led company to bridge a crucial gap between secondary and <keyword id="6375224" type="ORGANIZATION" weightage="100" keywordseo="higher-education">higher education</keyword> for low-income learners. PALF is enthused to support the Avanti team to successfully grow across India, and we look forward to working with them to deliver on their long-term vision,” she added. 
 Commenting on the funding, Saxena said, “Once we decided that a <keyword id="1975001" type="UNKNOWN" weightage="100" keywordseo="For-profit">for-profit</keyword> model was the best way to reach scale, we knew we would need expert strategic insight and advice. We are incredibly excited to be working with the Pearson Affordable Learning Fund as they bring unrivalled education expertise to the table that can help us achieve our long-term objectives. We look forward to building upon the relationship with Pearson as we improve outcomes for low-income learners in the years to come.” 
 
Recent fundraising by education start-ups 
uFaber: Mumbai-based <keyword id="1975002" type="UNKNOWN" weightage="100" keywordseo="uFaber-Edutech">uFaber Edutech</keyword> (http://www.ufaber.com/), which runs an <keyword id="1975003" type="UNKNOWN" weightage="100" keywordseo="Online-education-marketplace">online education marketplace</keyword> for <keyword id="1975006" type="UNKNOWN" weightage="100" keywordseo="Professional-skill-development">professional skill development</keyword>, hobbies, crafts, academics and vocational training, got Rs 37 lakh from <keyword id="1975007" type="UNKNOWN" weightage="100" keywordseo="Ah-Seeders">Ah! Seeders</keyword>, the seed funding network of <keyword id="1975008" type="UNKNOWN" weightage="100" keywordseo="Club-Ah">Club Ah!</keyword> It is the network’s maiden investment in India after its launch in the country. Ah! Seeders puts its money into very early stage companies and typically invests in the range of Rs 25-50 lakh. 
 
<keyword id="1573710" type="COMPANY" weightage="100" keywordseo="Meritnation">Meritnation</keyword>: Delhi-based <keyword id="1962741" type="COMPANY" weightage="100" keywordseo="Applect-Learning-Systems">Applect Learning Systems</keyword>, which runs the online education and assessment site Meritnation.com (http://www.meritnation.com/), secured Rs 10 crore from <keyword id="80004" type="COMPANY" weightage="100" keywordseo="Info-Edge">Info Edge</keyword> (India) Ltd, the biggest consumer Internet company in India by market value. With this fresh round, Info Edge has put in a total of Rs 71.5 crore and holds around 55.81% stake in Applect (on a fully diluted and converted basis). 
 
<keyword id="900714" type="COMPANY" weightage="100" keywordseo="InOpen-Technologies">InOpen Technologies</keyword>: Mumbai-based InOpen Technologies (http://inopen.in/), a start-up developing educational content and <keyword id="1975016" type="UNKNOWN" weightage="100" keywordseo="Teachers-training-solutions">teacher’s training solutions</keyword>, received an undisclosed sum in Series A from <keyword id="1975017" type="UNKNOWN" weightage="100" keywordseo="Japanese-education-firm">Japanese education firm</keyword> Benesse Holdings, Inc. In August 2011, the company raised $500,000 in seed funding from <keyword id="1975018" type="UNKNOWN" weightage="100" keywordseo="Ventureast-Tenet-Fund-II">Ventureast Tenet Fund II</keyword>. 
 
MangoSense: The Pune-based edutainment start-up (http://mangosense.com/) got an undisclosed amount from <keyword id="164924" type="ORGANIZATION" weightage="100" keywordseo="Mumbai-Angels">Mumbai Angels</keyword>. Its products include <keyword id="1975022" type="UNKNOWN" weightage="100" keywordseo="MangoReader">MangoReader</keyword>, <keyword id="1975023" type="UNKNOWN" weightage="100" keywordseo="MangoReach">MangoReach</keyword> and <keyword id="1975025" type="UNKNOWN" weightage="100" keywordseo="MangoSocial">MangoSocial</keyword>, through which users can create a fun and social environment for reading books and sharing them with friends. 
 
<keyword id="1975033" type="UNKNOWN" weightage="100" keywordseo="K2-Learning">K2 Learning</keyword>: Bangalore-based hybrid (online-offline) start-up K2 (http://k2learning.in/) secured Rs 8 crore in angel funding from <keyword id="244269" type="PERSON" weightage="100" keywordseo="Radheshyam-Agarwal">Radheshyam Agarwal</keyword>, founder and director of <keyword id="1975034" type="UNKNOWN" weightage="100" keywordseo="Calcutta-Tube-India">Calcutta Tube India</keyword>. The start-up specialises in <keyword id="1975035" type="UNKNOWN" weightage="100" keywordseo="Commerce-content">commerce content</keyword> and plans to set up <keyword id="1974968" type="UNKNOWN" weightage="80" keywordseo="Tab-Labs">Tab Labs</keyword> in more than 100 <keyword id="37181" type="ORGANIZATION" weightage="100" keywordseo="colleges">colleges</keyword> that will get special tablets with <keyword id="1975036" type="UNKNOWN" weightage="100" keywordseo="Pre-loaded-commerce-data">pre-loaded commerce data</keyword>. 
 
<keyword id="1309724" type="UNKNOWN" weightage="100" keywordseo="Simplilearn">Simplilearn</keyword>: Bangalore-based <keyword id="1974963" type="UNKNOWN" weightage="100" keywordseo="Simplilearn-Solutions">Simplilearn Solutions</keyword> (www.Simplilearn.com), a company offering <keyword id="1309739" type="UNKNOWN" weightage="100" keywordseo="professional-certification-courses">professional certification courses</keyword> online, secured $10 million in <keyword id="1095983" type="UNKNOWN" weightage="100" keywordseo="Series-B-funding">Series B funding</keyword> from <keyword id="309606" type="ORGANIZATION" weightage="80" keywordseo="Helion-Venture-Partners">Helion Venture Partners</keyword> and existing investor <keyword id="1397792" type="UNKNOWN" weightage="80" keywordseo="Kalaari-Capital">Kalaari Capital</keyword>.

Another Education Start-up From India Gets Seed
Round From Pearson Affordable Learning Fund

<ul class="summary-list"><li>Reach Capital has closed its fourth fund with $215 million to invest in education startups.</li><li>The announcement comes at a time when edtech startups have seen a pullback in new deals. </li></ul>San Francisco-based Reach Capital has closed $215 million in fresh capital for its fourth fund, the largest in the firm's history. Consistent with the previous fund, Reach IV will focus on education and future of work investments in the earlier stages, such as seed to Series B, and in companies based both in the US and abroad. Reach plans to double down on its plan to invest in education and education support startups for K-12, higher education, and career upskilling and reskilling, including an interest in companies that can support teachers dealing with shortages and burnout. The team is also looking to back more companies using<a href="https://www.businessinsider.com/education-experts-teachers-generative-ai-chatgpt-classroom-2023-1"> generative AI in education</a>, Reach Capital founding partner Esteban Sosnik told Insider. "I think overall at the growth stage, some activity has slowed, but we're actually seeing some really unique opportunities on this side from companies who are coming back or thinking about some more conservative round goals," said Reach Capital founding partner Wayee Chu. Edtech investing hit a high in 2021 during the post-COVID lockdown boom with $16.8 billion in funding going to startups, according to PitchBook data. But just as the venture capital industry experienced a<a href="https://www.businessinsider.com/2021-has-been-a-record-breaking-year-for-venture-capital-2021-12#:~:text=While%20the%20year%20isn't,three%20quarters%2C%20according%20to%20Crunchbase."> record-breaking year</a> for fundraising and investments, the market wavered in 2022, and so did<a href="https://www.businessinsider.com/top-edtech-trends-2023-according-education-vcs-vr-teaching-ai-2022-12"> edtech investing</a>. Near the end of 2022, edtech investing had just reached $8.89 billion in 2022, according to PitchBook. While generalist investors still have some interest in edtech deals, some of the hype has worn off. "It's a down market for everyone but some LPs are saying things like, 'I don't invest in edtech,'' said Katelyn Donnelly, the managing director of the early stage edtech fund Avalanche VC. "It's funny because every category is hard. It's not like medical devices or clean tech are a sure bet." But for Mark Berryman, a managing director at Caprock and one of Reach's returning LPs, this specialization in edtech is what attracted him to backing Fund IV. "When we looked at other education funds that had the same number of vintages, Reach often had a more focused strategy — while others were investing in more companies with the hopes that just a few do well. Reach outperformed their peers in terms of overall fund performance and had created more exits," Berryman said. The firm was founded in 2015 by longtime edtech investors and former educators <a href="https://www.businessinsider.com/top-education-technology-edtech-venture-capitalists-to-know-2022-5">Shauntel Garvey and Jennifer Carolan</a> along with Sosnik and Chu, and to date has ranked as the most<a href="https://affiliate.insider.com?h=c15221cc589571e86e1b407dc31811d4cbaffb150170a2a9a7a8396822aaf213&amp;postID=642dd7832001442a47053567&amp;site=bi&amp;u=https%3A%2F%2Fwww.theinformation.com%2Farticles%2Fthe-most-and-least-diverse-venture-capital-firms%3Frc%3Daoqvbj" target="_blank" rel="noopener"> diverse venture</a> fund based on the gender and racial backgrounds of its key decision makers, The Information reported. Reach Capital nears the top of the list of the largest venture funds that are focused specifically on edtech, right behind others like Owl Ventures, which closed over <a href="https://www.wsj.com/articles/owl-ventures-raises-over-1-billion-in-new-money-for-edtech-bets-11641985204#:~:text=The%20firm%2C%20based%20in%20Menlo,companies%20to%20isolate%20financial%20risk." target="_blank" rel="noopener">$1 billion in new funding</a> at the beginning of 2022, Learn Capital, and GSV. Reach has also backed several edtech startups that went on to become unicorns, or reach a valuation of over $1 billion, including Outschool, ClassDojo, and Handshake. Also, by focusing on early stage deals with a sweet spot between pre-seed and Series B, Reach Capital has been the most active edtech investor by deal count metrics. As of mid-March 2023, Reach was the most active investor in edtech deals since 2018 as of mid-March 2023, with 72 startup deals closed, according to PitchBook data.

Edtech venture capital firm Reach Capital raises $215 million for its largest fund ever and has its sights set on backing more generative AI startups

<keyword id="1954793" type="POSITION" weightage="80" keywordseo="Global-education-leader">Global education leader</keyword> Pearson’s inaugural <keyword id="1954829" type="UNKNOWN" weightage="100" keywordseo="Edupreneur-programme">edupreneur programme</keyword>, jointly launched by <keyword id="1894311" type="UNKNOWN" weightage="100" keywordseo="Pearson-Affordable-Learning-Fund">Pearson Affordable Learning Fund</keyword> (<keyword id="1954796" type="UNKNOWN" weightage="100" keywordseo="PALF">PALF</keyword>) and US-based investor <keyword id="1693490" type="UNKNOWN" weightage="100" keywordseo="Village-Capital">Village Capital</keyword>, came to a close with <keyword id="1954794" type="UNKNOWN" weightage="100" keywordseo="Experifun">Experifun</keyword> and <keyword id="1467859" type="COMPANY" weightage="100" keywordseo="Sudiksha-Knowledge-Solutions">Sudiksha Knowledge Solutions</keyword> walking off with a seed <keyword id="6357455" type="EVENT" weightage="100" keywordseo="Funding">funding</keyword> of $75,000 each. The <keyword id="6362476" type="ORGANIZATION" weightage="100" keywordseo="investments">investments</keyword> will enable the start-ups to further develop their low-cost education ventures and assist underprivileged school children. 
 Set up by a small group of <keyword id="6354859" type="COMPANY" weightage="100" keywordseo="IIT">IIT</keyword> and <keyword id="19478" type="CITY" weightage="100" keywordseo="IIM">IIM</keyword> alumni and teachers, Bangalore-based Experifun (www.experifun.com) is a <keyword id="1954797" type="UNKNOWN" weightage="100" keywordseo="Science-curriculum-and-toolkit-provider">science curriculum and toolkit provider</keyword> that is price-point accessible to schools serving the poor. To date, the start-up has sold to 40 schools in a pilot and is looking to scale. Its flagship offering is Caboodle – an all-in-one box complete with various kits that cover all science topics for a grade. Only one box is required per classroom to make science learning and classroom experiments fun, easy and interactive. The start-up currently caters to Standard III-VIII and its products are suitable for both urban and rural schools. 
 Founded by a group of <keyword id="484405" type="UNKNOWN" weightage="100" keywordseo="Social-entrepreneurs">social entrepreneurs</keyword>, Hyderabad-based Sudiksha (http://www.sudiksha.in/) operates pre-schools that offer quality education to kids from bottom-of-the-pyramid families. It currently owns and manages 18 schools – 12 in Hyderabad and six in rural Andhra Pradesh. All 12 institutions in Hyderabad are run by women entrepreneurs under an incentivised profit-sharing scheme. 
 
As we <a href="http://www.businessinsider.in/Are-You-An-Edupreneur-Heres-How-Peer-Review-Can-EarnYou-Seed-Money/articleshow/23631803.cms">reported</a> earlier, the winners of this <keyword id="1464365" type="UNKNOWN" weightage="100" keywordseo="Accelerator-programme">accelerator programme</keyword> were selected by their peers – 14 education-focused start-ups who made the final cut. After a rigorous initial screening, the finalists were chosen out of 125 applicants from all over India. All 14 fledgling firms spent around three months with Pearson and Village Capital, attending a series of workshops and peer review sessions across the country. The intense schedule was to make them investment-ready and more market-savvy. 
 Other start-ups that participated in the programme are <keyword id="1894319" type="UNKNOWN" weightage="100" keywordseo="40K-Plus-Education">40K Plus Education</keyword>, <keyword id="1894320" type="UNKNOWN" weightage="100" keywordseo="Callystro-Infotech">Callystro Infotech</keyword>, <keyword id="1744639" type="UNKNOWN" weightage="100" keywordseo="Edwell-Solutions">EdWell Solutions</keyword>, <keyword id="1894321" type="UNKNOWN" weightage="100" keywordseo="Effect-International">Effect International</keyword>, <keyword id="1894325" type="UNKNOWN" weightage="100" keywordseo="Magic-Pathshala">Magic Pathshala</keyword>, <keyword id="1894327" type="UNKNOWN" weightage="100" keywordseo="MangoSense">MangoSense</keyword>, <keyword id="1894328" type="UNKNOWN" weightage="100" keywordseo="Sage-Services">Sage Services</keyword>, <keyword id="1894330" type="UNKNOWN" weightage="100" keywordseo="Scholowiz-Educational-Solutions">Scholowiz Educational Solutions</keyword>, <keyword id="1894333" type="UNKNOWN" weightage="100" keywordseo="SEED-Edu-Corp">SEED Edu Corp</keyword>, <keyword id="1894334" type="UNKNOWN" weightage="100" keywordseo="RMinds-Education">RMinds Education</keyword>, <keyword id="1894335" type="UNKNOWN" weightage="100" keywordseo="TeachersLikeMe">TeachersLikeMe</keyword> and <keyword id="1894336" type="UNKNOWN" weightage="100" keywordseo="Teer-Designs">Teer Designs</keyword>. 
 Announcing the winners, Katelyn Donnelly, executive director of PALF, said, “These inspiring entrepreneurs are excellent examples of the innovations desperately needed to improve access to, and quality of, <keyword id="1954814" type="UNKNOWN" weightage="100" keywordseo="Education-for-low-income-learners">education for low-income learners</keyword> around the world. Both Experifun and Sudiksha have established strong traction with customers and shown early promise to transform learning outcomes and scale quickly.” 
 
“We’re incredibly proud of the hard-working teams in the 2013 India cohort,” said Ross Baird, executive director of Village Capital. “We’ve been excited to bring together the future leaders of the affordable education sector in India. We’re thrilled to welcome Experifun and Sudiksha to our portfolio, and to welcome the entire cohort into our alumni network of over 350 impact-oriented enterprises worldwide.” 
 
PALF makes minority equity investments in for-profit companies operating in the affordable education services in Africa, Asia and Latin America. The fund was launched in July 2012 with $15 million of initial capital from Pearson. The fund aims to improve access to quality education for the poorest families in the world. 
 
Village Capital has served over 350 ventures worldwide, building disruptive innovations in energy, environmental sustainability, agriculture, health and education. Till now, it has launched 22 programmes in seven countries and made 30 peer-selected investments. Participant enterprises have raised more than $40 million in follow-on funding. 
 
Image: Pearson

These 2 Peer-selected Start-ups
Shared $150K Investment To Boost Low-cost Education

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Another Education Start-up From India Gets Seed Round From Pearson Affordable Learning Fund

Sanghamitra Mandal

Edtech venture capital firm Reach Capital raises $215 million for its largest fund ever and has its sights set on backing more generative AI startups

Madeline Renbarger

These 2 Peer-selected Start-ups Shared $150K Investment To Boost Low-cost Education

Sanghamitra Mandal

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