Ed-tech startup, Cuemath has today raised $15 million in its Series B investment round led by CapitalG along with existing investor Sequoia India. Cuemath offers a sophisticated after-school math learning program for children from KG to 8th grade, designed and developed by math graduates of leading universities. The company previously raised $ 4 million from Sequoia India and Unitus Seed Fund, last year in June.
Founded in 2013, Cuemath is presently operational in Delhi, Bangalore, Mumbai, Chennai, Pune and Hyderabad. The venture has 300 math excellence centers in the mentioned cities with over 2,000 centers across the country. The platform focuses only on Maths, as the subject usually holds a fear in the mind of students. Moreover, the students lack in the understanding the complex topics relative to the subject.
The syllabus provided by the platform has a unique 3-domain approach and covers school math, mental aptitude, and creative logic. These learning activities are also carefully calibrated, sequenced and formulated into engaging practice exercises.
Cuemath plans to channelize the funds for expansion purposes taking the platform to further metro cities. The company also tends to make the system more powerful by infusing it with better technology. Cuemath intends to open up 5,000 centers and enroll 40,000 children in the program by March 2018. For now, about 10,000 students are linked up the platform besides 1500 teachers onboard.
Speaking on the investment, Cuemath Founder and CEO Manan Khurma said,
Given the way technology is evolving, the most valuable ability in just a few years from now will be that of complex problem-solving, and the best way to build that ability is to build a strong and holistic math foundation.Through its multi-format tech-enabled learning system, Cuemath ensures that children not only master math but also fall in love with it.
With being backed by CapitalG, formerly Google Capital, the company is expected to scale up with regards to its unit economics and capital efficiency. Moreover, CapitalG would assist Cuemath in terms of technology — building the quality of the educational ecosystem. CapitalG’s Head of India Investments Kaushik Anand further added,
We are happy to be supporting Cuemath on the quest of transforming the way math is experienced by children across the globe.