Mumbai Angels and Auxano lead Pre Series A funding round of INR 5 Cr for Ed Tech startup Avishkaar
Mumbai, 1st June 2021:Mumbai Angels Network, a premium platform for early-stage investments, along with Auxano, and other eminent angel investors, has invested INR 5 crore in Ed-tech startup Avishkaar as a part of pre series A.
Avishkaar is a category leader in next-generation technology education that focuses on robotics, AI, coding, and app development for children between 5 and 15 years of age through its hardware and software products. Avishkaar plans to utilize the funding towards product development and further expansion of its portfolio in addition to hiring talent. Further, with its mission to build an army of young innovators globally, the company will invest in marketing; India will continue to be a focus market this year with enough scope to grow in Tier-I and Tier-II cities while catering to inbound queries from international institutions.
Speaking about the investment, Tarun Bhalla, Co-founder, and CEO, Avishkaar said, “Avishkaar’s goal since its inception has been to create an army of innovators. Exponential technologies like AI, Robotics, Coding, and 3D printing are already defining the world around us. However, with COVID-19, technology is at the heart of everything, and we must impart these skills amongst our children if they find these fields exciting. Avishkaar’s approach is one of the platforms that comprises hardware kits, software solutions, and LIVE online classes to ensure that children have the right tools, curriculum, coaching, and environment to excel at these skills.
“We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward”, he added.
Adding to this, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels Network said, “Ed-tech is one of the most lucrative sectors and one of the few industries that has emerged triumphant from the pandemic’s impact. The education sector will heavily rely on technology-driven teaching and learning even after the pandemic has passed. Avishkaar has been consistent in providing seamless solutions that cater to today’s learners and we believe that this investment will enable them to further innovate, expand their offerings, and grow.”
"Avishkaar, having developed hardware, software, curriculum & communities to learn tech skills for the future like Robotics, AI, Coding, IoT & drones within 1100+ schools, extended their model to add student learning as a B2C strategy. This B2C focus has seen early traction accelerated by the tech adaption in the education industry due to Covid19, capitalising on the need of the parents and students to learn these future-ready skills.
Accoutred with a hybrid model targeted at schools and direct students allows them to address both ends of the spectrum. Lead by a proficient team that understands the education space with a decade+ experience in educational offerings. Lastly, NEP 2020’s focus on STEAM education is another impetus that will enable growth. A combination of these ingredients leaves Avishkaar poised for growth hereon." said, Angad Singh Bilochpura - Deal Lead.