The Indian E-Teaching startup Teachmint raised USD 16.5 million
The Bangalore based online teaching startup emerged in the deadly COVID-19 pandemic. The pandemic led to the nationwide shutdown. As a result, schools and colleges have been closed. The entire education system was retarded due to sudden shift to virtual platform. The teachers and students struggled in operating Google Meet, Ms Team, Zoom to take online classes. WhatsApp groups were flooded with a load of assignments, worksheet, doubts, etc. The professional and personal life was disrupted in these hard times.
Mihir Gupta observed the grievances of teachers and students. He founded Teachmint in order to solve all such issues and digitised the classrooms. He created an app for Android smartphone, iPhone or the web where teachers can conduct online classes. Not only this, the teachers can take a live session, doubt clearing sessions, attendance, fees, webinars, enrol new students, give assignments and worksheets etc with a single click. It is available in 10 highly local languages. The brand avers to have over 7,00,000 teachers who signed up on the platform within the 10 months of launch.
The EdTech startup Teachmint raised $16.5 million in Series A funding by Learn Capital. Some of the existing investors participated in the round like Lightspeed, Better Capital along CM Ventures.
The freshly raised capital will be used for hiring talent, R&D on teaching technology, strategic acquisitions, and market expansion outside India. They have planned to not monetize their products as of now. As the ultimate motive is to reach out to more teachers in India.
“This is the Teachmint’s third round of investments within 10 months of launch in May 2020, making it the fastest EdTech startup in India to raise more than $20 million in the capital,” it said in a press statement.
Teachment is open to collaborating with startups that are making exceptional products in education. It will benefit them to connect to a larger audience.
Mihir said that Learn brings along global experience across geographies with investments in the US, Europe and Asia. He believes that their insights will add a lot of value as he looks at global markets.