KSUM-backed edtech startup secures Rs 2.25 crore angel funding
Kochi / June 27, 2023
Kochi, June 27: One-to-one online learning platform INTERVAL, a start-up under the Kerala Startup Mission (KSUM), has garnered Rs 2.25 crore in a pre-seed fundraising round headed by prominent angel investors from the United Arab Emirates (UAE), demonstrating the growing international interest in the Indian edtech space.
The funding will enable INTERVAL, which encompasses over 1,000 academic and non-academic courses, to accelerate its growth trajectory, besides expanding reach and enhancing product offerings.
A learning platform for children in the K-12 sector (from kindergarten to plus-two), INTERVAL founded in 2021 by five youngsters- Ramees Ali, Sanafir O K, Najim Illyas, Shibily Ameen, and Aslah Thadathil, offers personalised classes to children in the K-12 sector.
On raising the capital, INTERVAL CEO, Mr Ramees Ali said, "we are excited to have secured this pre-seed funding, which will fuel our aim to provide personalised and high-quality education to students across the K-12 segment. With the support of our investors, we are confident in our ability to transform the learning experience for children and empower them to realise their full potential."
Within a short time, INTERVAL has expanded its customer base to over 30 countries, fostering a robust community of customers in India and GCC countries. Notably, the K-12 EdTech startup has succeeded in achieving a hefty revenue of Rs 8.02 crore in the last fiscal.
The pre-series funding will be primarily utilised to strengthen technology infrastructure, onboard more skilled teachers, and develop new educational content to enrich the learning experience for students further, Mr Ramees said.
“Through our unique one-to-one teaching methodology, we ensure that each student receives individual attention thereby enabling a customised learning experience tailored to their specific needs and aspirations”, he noted.
The pre-seed funding round saw participation from a select group of UAE-based angel investors known for their strategic investments in promising startups. Their confidence in INTERVAL’s vision and value proposition underscores the company's potential to disrupt the edtech market and make a lasting impact in the education sector, Mr Ramees said.
Also, this success serves as a testament to the strong market potential and investor confidence in the country’s Edtech sector. As the company continues to scale and expand its operations, it expects to play a key role in shaping the future of education in India, he added.
KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.
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