EdTech platform has announced it has raised pre-Series A funds to the tune of Rs 14.31 crore from Mumbai Angels, LetsVenture, Ecosystem Ventures andSucSeed Ventures.
SpeEdLabs will direct the freshly infused capital towards expanding its presence and bolstering its infrastructure.
Vivek Varshney, Founder of SpeEdLabs, said, “As the world gradually moves toward a hybrid model of education, it’s high time children/students receive education personalized as per their requirements. Pure Online Tutoring was a forced choice during COVID lockdown, but now the Offline classroom model using technology will be the successful hybrid model."
SpeEdLabs platform uses data-driven hyper personalization, dynamic adaptive learning, algo-driven automated content management and analytical data visualization to help students achieve their potential as we bring the best of both worlds, Varshney said, adding, "Currently present in 200+ cities, enabling 100,000+ students and empowering over 5000 teachers, SpeEdLabs will soon be expanding their presence to 800 cities across 23 states in the country”.
Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels, said, “The advent of AI enabled Platform-as-a-Services solutions have been revolutionizing the hitherto unorganized after school tuition market. There is a tremendous demand for the non-generic mode of learning given the one size fits all education system prevalent in India today. We are confident that the unique tech driven learning solutions will continue to enrich students' learnings and fuel future demand for personalized coaching.”
Having scaled 10x in 18 months in product revenues and a funnel of 3000+ clients, SpeEdLabs is well on its way to crossing Rs 1.5 crore per month by June 2022, it said in a statement.
