SpeEdLabs, an Edtech platform has raised Rs 14.31 crore in its pre-Series A funding round from Mumbai Angels, LetsVenture, Ecosystem Ventures and SucSeed Ventures.
The platform will use the funds to expand its presence and strengthen its infrastructure.
The Mumbai-based SpeEdLabs was founded in 2015 by Vivek Varshney, It is an online learning platform designed to combine analytics with active learning.
The edtech startup offers learners AI-enabled personalized practice-based learning that includes online and offline practice components, personalized feedback, online mentoring, doubt application, tests and corrections, study materials, mock tests, video lectures and much more.
“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”, said, Vivek Varshney, Founder of SpeEdLabs.
“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”, he added.
This startup is R&D with a team of 40+ IIT alumni preparing for JEE, NEET, CBSE, ICSE and class 6th to 12th.
Through its platform it helped more than 10k students with +25k concepts and more than 1 million questions.
With 10x in product revenue in 18 months and a funnel of 3000+ customers, SpeEdLabs is on track to cross Rs 1.5 crore per month by June 2022, it said in a statement.
“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”, said, Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels.
At SpeEdLabs, they thrive in a conceptual thinking world. Its vision is to provide a top-notch, technology-based Learning and Practice platform to students at an affordable price, thus empowering every student to grow into their full potential.