Homeschooling-focused edtech startup ClassMonitor announced that it has raised Rs 3.5 crore in pre-Series A funding led by PATH India and Gulf investors, including UAE-based Calega family office investor group, and Sarvann, a clutch of Oman-based investors.
The company plans to utilize the freshly raised funds to increase its presence in other countries and improve its content and technology for users.
With the latest round of funding, ClassMonitor has raised Rs 6 crore since its launch in 2016.
Commenting on the development, Vijeet Pandey, Co-Founder and CEO, said, “A remarkable component of our societal adjustment during the last one year has been the ability to keep children engaged in educational experiences while away from the classroom. At ClassMonitor, we are combining valuable lessons with interesting tasks that encourage interaction between the kids and parents. The DIY experience teaches them problem-solving skills and also helps in developing an analytical thinking perspective.”
As part of its angel round, ClassMonitor was backed by Piyush Jain, CFO, and Al Hajri group, a well-known angel investor that has invested in more than 25 startups globally.
Established in 2016 by childhood friends, ClassMonitor was originally started as a messaging platform for parents and teachers.
In 2018, the startup turned to a hybrid early learning tool that combines offline learning with digital cues and rewards. The startup has generated Rs 7 crore in net revenue since the product launch in October 2018.
ClassMonitor centers on the primary development of a child based on five focus areas: linguistic skills, logical thinking, sensory and motor skills, cognitive skills, and creativity. Their kits are designed for early learners (0 to 8) and allow parents to teach, play, and bond meaningfully with their children.
Rishika Agrawal, PATH India, said, “We have always been passionate about the education industry and run a skill development center as well for on-field training of engineering students. ClassMonitor is tapping into the edtech space while engaging children meaningfully in a holistic fun learning environment. We loved the sheer enthusiasm and the vision of the founders.
“Our investment will support ClassMonitor through its entire journey in becoming the pioneer in the education subscription box industry. We see an opportunity to build a global leader in addressing the unique needs of early learning by co-creating products for children, parents, and educators.”
ClassMonitor looks like an innovative platform offering unique learning kits for kids. The company has come up with an interesting idea and seems to have huge growth prospects. My best wishes to the team of ClassMonitor.Shishir Gupta, Founder and CEO, StartupLanes
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