Edtech Startup Udayy Raises $2.5 Mn From Alpha Wave Incubation & Info Edge Ventures The startup will use the fresh capital for next phase of its growth which will include curriculum development, product suite expansion and hiring
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Edtech startup Udayy on Monday announced it has raised $2.5 million in seed funding led by Alpha Wave Incubation (AWI) and InfoEdge Ventures. Better Capital, Cred's Kunal Shah and other angels also participated in the round.
The startup will use the fresh capital for next phase of its growth which will include curriculum development, product suite expansion, and hiring across the product, curriculum and engineering teams.
Founded by Saumya Yadav, Mahak Garg, and Karan Varshney—alumni of IIT-Delhi and Stanford University—Udayy is teaching Maths and English to children in the age group of 6-11 years (grades 1 to 5). The startup claims to facilitate the development of mathematical thinking and confident speaking in children by engaging them in an interactive, small classroom with 3-5 children. The startup has also launched a free app providing daily worksheets for children.
The startup has raised its first round of angel funding in June 2019. Since its inception, Udayy has built a highly differentiated model in India's edtech ecosystem.
Commenting on the development, Yadav, co-founder and chief executive offier at Udayy, said,"Primary grades are formative years of education for children. An outdated education system is failing Indian parents and children. Udayy is making learning fun and engaging for children by bringing "learning by doing' methodology through games, roleplays, and activities to our classrooms. We are thrilled to partner with AWI, Info Edge Ventures and our other investors to bring our mission to life."
The startup boasts a retention rate of over 97 per cent. Currently, children from over 45 cities and towns across India joined Udayy. The company runs more than 400 classrooms on a daily basis.
Commenting on the investment, Anirudh Singh, managing director, Alpha Wave Incubation, said, "After-school education in the younger age group segment is an untapped market in India. Udayy is on track to disrupt the space through its experiential learning model, which uses technology driven gamification as a key driver of learning outcomes. The team has shown deep market understanding and ability to iterate quickly, and we are excited to be the first institutional investors in the company."
Kitty Agarwal of InfoEdge Ventures expressed excitement to partner with the startup and claimed that Udayy will deliver an educational experience that resonates with both young children and their parents
