Education technology startup Winuall has raised Rs 14.7 crore ($2 million) in funding from Prime Venture Partners, Beenext and LivSpace founder Ramakant Sharma, among other angel investors.
The company provides technology infrastructure to offline coaching institutes on a subscription model to bring them online, enabling them to offer study material, conduct assessments and live classes.
The investment comes amid the Covid-19 pandemic that has caused a massive surge in signups on edtech platforms. The shift to online learning has also come at the expense of offline coaching centres as studying from home became the norm.
The startup is targeting to sign up 20,000 such institutes on its platform to reach three million students by the end of 2021. “Our aim is to enable tutors in India to go digital and improve the quality of learning for students. We want to empower the tutors and coaching institutes to remain independent by building and retaining their own brand name through our platform,” said Ashwini Purohit, CEO at Winuall.
While individual tutors and small institutes too jumped onto the online learning bandwagon using freely available video tools to conduct classes and WhatsApp and other such apps to share material with students, there’s a growing need for business-to-business edtech players to serve this industry.
“The tutoring market is at a significant inflection point, and there are a lot of tutors who want to manage their own student interactions and develop an independent identity. Winuall is facilitating this by helping tutors and coaching institutes to go digital,” said Shripati Acharya, managing partner, Prime Venture Partners.
Winuall plans to utilise the funding to build its product and also hire across technology, product, AI and business development functions. It claims it already has over 5,000 tutors on its platform, and has seen a massive increase in the adoption of online live classes due to the lockdown.