Avishkaar, a leading next-generation technology education provider, announced it has raised ₹5 crore (about $0.7 million) in a pre-Series A funding round.
The Delhi-based EdTech startup secured funding from VC firm Auxano, Mumbai Angels, and angel investors including Alok Mittal, Co-founder & CEO of Indifi Technologies, and Varun Aggarwal, Co-founder of Aspiring Minds.
Avishkaar has previously raised ₹5 crore in seed funding from Auxano in February 2018 and used the funds to expand its presence across the country in schools and launch a new line of products. The company said it plans to utilize the latest funding to develop its product, expand its portfolio, hire more talent, and in marketing with a continued focus on the Indian market.
Launched in 2014, Avishkaar is a category leader in next-generation technology education for children between 5 and 15 years providing a comprehensive platform to teach and learn 21st-century skills like coding, robotics, Artificial Intelligence (AI), the Internet of Things (IoT), 3D printing and drones among others. The platform includes award-winning robotics kits like E Series, Tweak, and Maker Board, personalized learning with LIVE online courses led by expert teachers, an active and engaged online community of children who love to code, build and innovate, and an international championship for coding and robotics titled Avishkaar League.
Commenting on the latest development, Tarun Bhalla, Co-founder & CEO of Avishkaar, said,
“Avishkaar’s goal since its inception has been to create an army of innovators. Exponential technologies like AI, robotics, coding, and 3D printing are already defining the world around us. However, with COVID-19, technology is at the heart of everything and it’s important that we impart these skills amongst our children if they find these fields exciting. Avishkaar’s approach is one of a platform that comprises hardware kits, software solutions and LIVE online classes to ensure that children have the right tools, curriculum, coaching, and environment to excel at these skills. We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward.”
Avishkaar claimed to be the only EdTech platform that provides micro degrees for robotics, coding, and app development.
Pooja Goyal, Co-founder & COO, Avishkaar, supplemented,
“Innovation is at the heart of everything we do and Avishkaar platform empowers every young maker to bring their ideas to life using a deep understanding of next generation technologies. We provide a comprehensive platform that bridges the gap between next-generation technology skills and life skills with appropriate tools, community, content and mentoring. If we are to nurture creators and not mere consumers then it is important for parents and schools to create micro-environments where children can make, break, experiment, take risks and fail.”
Before the COVID period, Avishkaar was working with over 1500 schools across the country. Following the pandemic, it shifted its focus to a Direct-to-Consumers (D2C) model through its existing school network and e-commerce channels. The company claimed this shift in strategy has accelerated the brand’s growth by more than 5 times and the platform has witnessed its user base grown to over 100,000 in the last year.
Brijesh Damodaran Nair, Founder & Managing Partner, Auxano, commented on the investment,
“Since the time of our investment in 2018, the Avishkaar team has witnessed a life cycle in the business, both good and not-so-good times, and their passion along with tenacity has been displayed over the years. Having launched new product lines along with creating new verticals, strengthening the leadership and operational teams, Avishkaar is poised to reach greater heights.”
Nandini Mansinghka, Co-promoter and CEO of Mumbai Angels Network, said, “Avishkaar has been consistent in providing seamless solutions that cater to today’s learners and we believe that this investment will enable them to further innovate, expand their offerings, and grow.”
Avishkaar said it has received interest from international students as well over the past year. So the company is planning to build and expand its operations this year.
The New Delhi-based startup is also a strong supporter of Atal Tinkering Labs in schools envisioned by NITI Aayog for fostering innovation. The company has set up over 1000 of these labs across the country.