BENGALURU: At a time when many industries in the country are facing a demand slump, the edtech sector has witnessed a huge surge in interest from investors in India and abroad as millions of users have flocked to the online learning platform during the COVID pandemic.
School AI-based tech platform Toppr is the latest to benefit, announcing on Wednesday that it has received Rs 350 crore ( $46 million) as part of the Series D funding round led by Dubai based investment firm, Foundation Holdings.
Existing investor Kaizen Private equity also participated in the fresh funding round.
The Mumbai-headquartered Toppr said in a statement that the cumulative capital now raised is Rs 700 crore, which will be used to fuel its adaptive AI learning platform with over 1.3 crore registered students and to launch new platforms for Coding and Schools.
With the latest funding, Toppr aims to list on stock exchanges overseas leveraging the investor Foundation Holdings' experience on regional and global indices.
"With this investment, we now have the capability and reach to truly revolutionize the K-12 education experience and ensure that no learner is left behind. We are also excited about the launch of the School OS and believe this will be a ground-breaking initiative empowering teachers and schools across the industry. We're delighted to have a passionate group of investors like Foundation Holdings with deep expertise in the education space to join us as we continue on our mission," Zishaan Hayath, Founder and CEO, Toppr said.
From teaching computer programming to early schoolers to bringing schools on board for digitization of classes, curriculum, Toppr's new initiative School OS has already onboarded 50,000 learners.
"Toppr's market-leading, proprietary machine learning technology is uniquely positioned to provide an integrated, curated, personalized pedagogy platform, mapped to 22 curriculums, designed to take schools to the future. Toppr has emerged as the highest traffic destination for K-12 learning and hosts over 1 million sessions every day. Toppr's community of 50,000+ educators from across the country has contributed to over 35 lakh learning pieces, including questions, solutions, concepts, games and videos for the students,” Aakash Sachdev, Managing Director, Foundation Holdings, who will join Toppr's board said in a statement
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