Ingenium, an EdTech startup providing digital solutions to schools and coaching institutes, has recently raised an undisclosed amount of funding in the seed round.
The Noida-based company secured the latest funding from India Accelerator’s iAngel Network, Lead Angels, Indian Angel Network, and other investors.
Founded by Pramudit Somwanshi, Mohit Patel, and Aakash Gupta in 2018, Ingenium provides a full-stack digitization platform to schools and coaching institutes, enabling them to take their institutes completely online and scale themselves. The platform provides a personalized mobile app for institutes to boost their brand’s name, allows them to take live classes, smart attendance, sell their courses, manage class, collect fees, upload study materials, create and conduct tests, and generate student reports among many others.
Ingenium claims to have connected over 150,000 students and 5000+ teachers in almost 100 cities across India. According to its website, the company has conducted 50,000+ hours of live classes and 30 lakh+ hours of video courses, with 1 crore+ questions attempted on the platform.
The startup plans to utilize the latest funding to scale its operations, strengthen its adaptive assessment technology, improve its product and expand the team.
Pramudit Somwanshi, Co-founder and CEO of Ingenium, said,
“We are thrilled with the opportunity that this investment round has given to us. It will help us to scale, hire more people, make our product seamless for our customers, and introduce new features and revenue streams.”
To achieve the projected scale, Ingenium said it will focus on forming channel partnerships with already existing resellers in the market, hyperlocal companies in tier 2 and tier 3 cities. Additionally, the startup said it will be aggressively working on adding new revenue streams by focusing on new opportunities such as B2B marketplace, content subscription, and adaptive assessments.
Commenting on the investment, Anshu Gupta, former AVP of investments at HT Media and a prominent angel investor who participated in the round through IA’s iAngel Network, said,
“We are impressed with the idea of Ingenium and excited to back a tech-enabled EdTech startup that is committed to bringing a change in the existing education system. The perseverance of the founders and the relentless efforts of their team in reaching out to the institutes and academic channel partners display their deep understanding and dedication to be a forerunner in the market. We are confident that Ingenium will be consistent in offering a distinguished product to educators of Bharat with a sustainable business model.”
Ingenium is incubated and mentored by India Accelerator and operated by GAPSPASM Technology Solutions Pvt. Ltd.