The Indian edtech market is red hot at the moment, with players like Byju’s and Unacademy making huge acquisitions to draw out the growth brought along by the pandemic. There’s an abundance of startups offering high quality, recorded as well as live video lectures in the market, and thus, any new startup looking to enter the field has its work cut out. However, in the face of such massive competition, one year old Teachmint has continued to grow at a massive pace, and has now raised $78Mn in a funding round.
The Series B round was led by Rocketship.vc and Vulcan Capital, and saw participation from Learn Capital, CM Ventures, Lightspeed India and Better Capital. Moreover, new investors Goodwater Capital and Epiq Capital also pitched in.
While in the same edtech market as Byju’s, Unacademy and Vedantu, Teachmint offers a very different product than its competitors. It allows teachers around the country to set up their own online schools with just a few clicks, thus bringing already well functioning education centers online, instead of creating new ones.
This allows students to be in direct touch with their teachers, something that no other player in the market offers.
The model has already caught on, and has helped Teachmint become the fastest growing edtech startup in the country. The ‘ed-infra’ company has already grown to a user-base of over 10 million users in India and aims to scale this to over 100 million users globally in the near term
Mihir Gupta, Co-founder and CEO at Teachmint said, “Since inception, we have been laser-focused on addressing the big technology-infrastructure gap that exists in education. Over the past 16 months, we have been humbled by the experience of powering the teaching and learning infrastructure for millions of teachers and students across India.”
From supporting individual teachers to powering K-12 schools coaching institutes, colleges, universities and even EdTechs, we are disrupting technology penetration in education at an unprecedented pace,” he said.
The company plans to use these funds to strengthen its proprietary classroom technology as well as to expand into international markets. It also plans on growing its teams and hiring skilled talent, especially across product, technology, and design.