Bengaluru-based online teaching platform Teachmint raised $16.5 million, which comes to around ₹ 120 crores, in a Series A funding round led by Learn Capital, a venture capital firm focused on education technology, on May 4, 2021. Other investors participating in the funding round were CM Ventures and existing investors like Lightspeed and Better Capital.
Launched in May 2020, this is the third round of investments that this Indian startup has raised within 10 months of its launch, especially when the country is reeling under the Covid-19 Pandemic. Teachmint is the world’s largest live teaching platform outside China with over 700,000 teacher registrations.
Teachmint’s Series A also marks the first major lead investment in India by Learn Capital, often regarded as the first-ever and leading global edtech venture capital firm with early investments in Coursera, Udemy, Brainly, and 50+ global category leaders.
Aim to make learning easier for all
Founded by Divyansh Bordia, Anshuman Kumar, Mihir Gupta, and Payoj Jain’s Teachmint is an edtech platform helping offline tutors digitize their classrooms, engage online with students, and reach a wider audience. It raised in October $3.8 million in a seed round led by Lightspeed India and investors Better Capital and Titan Capital and the startup is the world’s largest live teaching platform outside China with over 700,000 teacher registrations.
Teaching is highly localized in India in terms of languages (around 80% of secondary-level students’ study in Hindi and vernacular media), curricula and teachers’ unique styles and pedagogy. Teachmint has been built to focus on regional customization and is available in 10 Indian languages other than English. Available as an Android, iOS, and Web application, Teachmint is ranked amongst the Top 5 free Education Apps on Play Store in India.
Mihir Gupta, Co-founder, and CEO at Teachmint said, “We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep, and extra-curricular learning.”
“We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause,” he added.
Learn Capital is a venture capital firm headquartered in the San Francisco Bay Area. Learn supports entrepreneurs pursuing scalable learning platforms and cloud-powered instructional services intended for stakeholders of every age and background and on nearly every continent.
Vinit Sukhija, Partner at Learn Capital said, “From the Learn Capital team’s first meeting with Teachmint’s co-founders several months ago, it was clear that their collective team had meticulously architected an end-to-end, multi-modal, and best-in-class solution enabling teachers in India to instantly and seamlessly digitize their classrooms.”
“Now with over 700,000 teachers, Teachmint has become India’s leading online teaching platform. The entire Learn Capital team is grateful to have the opportunity to partner with the Teachmint team as it progresses towards the company’s vision of democratizing online education in India and beyond,” he added.