Winuall, an online education platform that helps coaching institutes go digital, has secured INR 17 crore or a little over $2 million in a funding round led by Dream Incubator, Inflection Point Ventures, with participation from existing investors Prime Venture Partners, BEENEXT and other strategic investors.
According to the company’s statement, the startup plans to use the funds to enhance product and tech capabilities, hire across leadership roles and scale up marketplace business by onboarding more creators, content suppliers and educators.
Founded by Ashwini Purohit and Saurabh Vyas in 2019, Winuall is a social commerce platform that allows educators to share a wide range of curated courses to their students’ online education platforms. The platform helps coaching institutes go digital by providing them with content and performance improvement recommendations. It also enables tutors to sell their content and services to a broader audience and earn more. The company’s goal is to transform the way they teach and connect with students and learners with the help of cutting-edge technology.
Speaking about the company, Co-founder & CEO of Winuall, Ashwini Purohit, said in a statement:
“We are already break-even and are on track to make our marketplace business profitable in the next 3 months. We are humbled by the massive adoption of our platform across India. Customers are delighted and we are now excited to double down on building the company. In a world where the competition for good content keeps growing each day, we want to build a platform for tutors that can make their job easier by providing them complete freedom to customize the courses they offer and help them grow their earnings.
Purohit further added:
“At Winuall, we are building a content marketplace with strong supply, understanding user patterns and recommending best suitable content for the student. By our social commerce model, we have better margins to share with our educators and provide affordable content to students.”
The company has reported a 100% MOM growth in the adoption of their social commerce platform in the last six months and educators have seen 50% growth in their income. With the help of Winuall’s marketplace, tutors can now recommend best-in-class courses to their students from a highly curated repository of content with over 45,000+ lessons created by 1200+ educators / content experts.
Winuall also provides tutors with high-quality marketing tools which will help them reach potential students and help in building their own brand. The tutor has the independence to set prices, give discounts, run campaigns on social media to reach a wider audience and upsell their existing students. The Bengaluru-based firm aims to achieve $100 million GMV annually by the end of 2023. It competes with Tiger Global-backed Classplus and Lightspeed-backed Teachmint.
In October 2020, Winuall had raised $ 2 million in fresh funding from Prime Venture Partners, Beenext, Ramakant Sharma, the founder of LivSpace, along with a clutch of angel investors.