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Edtech startup Uolo has raised $22.5 million in Series-A funding spherical led by UAE-headquartered VC fund Winter Capital. The funding spherical additionally noticed participation from current buyers Blume Ventures and new Dubai-based fund Morphosis Venture Capital. Uolo had beforehand raised a seed funding of INR 20 led by VC funds Blume Ventures in November 2020, as per a press release given by the corporate.
Company handout
“The truth is that, after a few hours of play, rest and mandatory school homework, K-12 students do not have much time left. The edtech solutions need to build on top of 6 hours spent in school daily and magnify the outcomes by leveraging the smartphones available at home. The lack of alignment with school, together with exorbitant pricing is causing edtech companies to falter,” mentioned Pallav Pandey, CEO of Uolo.
Uolo’s open structure platform permits third occasion training publishers and new-age content material creators to develop bodily studying packages for K-12 faculties and college students. Uolo has partnered with greater than 8500 faculties throughout India and at the moment reaches over 3.7 million college students, claimed by the corporate within the assertion.
“The first wave of edtech companies in India have proven consumer interest in online education. However, they lacked a cost-effective distribution. We believe that there will be a new generation of edtech companies capable of building organic, low-cost distribution, allowing students to study at $10 per year rather than $10 per hour. Our investment in Uolo is based on our confidence in this type of company,” Anton Farlenkov, managing director of Winter Capital.