Bangalore based Aurus Network has raised ₹ 18 crores ($ 2.8 Million apprx.) from IDG Ventures and Kalaari Capital (via ET) on an equal footing. The company will be using this investment on R&D of its flagship, online lecture providing service, SuperProfs.com
SuperProfs is an online lecture providing service, which connects its users (registered students) directly to the lectures provided by some of the best professors across India. SuperProfs is a product of the 2010 founded Aurus Network.
Piyush Agrawal, CEO at Aurus, in a statement to Economic Times said,
With the new round of funds, we will invest in R&D, mobile technology and expand our product offerings to include more courses like IIT, and IAS study material at SuperProfs
SuperProfs claims to have over 25K registered students and 100 professors under its network. The parent company, Aurus Network claims to be growing at a 30% month-on-month growth rate. It expects to reach a goal of 1 Millon students in two years’ time.
Karan Mohla, VP at IDG Ventures said,
Education is a long-tail market and extremely fragmented. As a fund, (IDG) has been looking at education for 6-7 years just because of the number of possibilities, with the roadmap ahead being mobile.
Though India has been seeing a surge in the number of startups coming up with online education as their background, what sets SuperProfs apart, is the fact that it streams classroom videos at a surprisingly low bandwidth. It thus allows students in almost every corner of the country , to get access to its materials.
This investment marks the fourth, in a series of funding rounds which IDG and Kalaari have led together. The two of them had earlier invested in online fashion portal Myntra (which was acquired by Flipkart), a mobile video streaming service Apalya Technologies and Zivame, which is an online lingerie store.