Uolo, a Gurugram-based Edtech startup that provides private schools with affordable parent-teacher communication software and an ERP management solution, has raised $22.5 million in a Series A funding round led by UAE-based venture capital fund Winter Capital.
Existing investors Blume Ventures and the brand-new Dubai-based fund Morphosis Venture Capital participated in the investment round. The Edtech startup raised $3 million in seed funding in November 2020, led by Blume Ventures.
Uolo collaborates with private schools to support the development of their online capabilities and provides them with curricula-aligned learning packages.
These programs typically include a book the instructor uses in the classroom and online tasks that the students can complete at home. Students supplement their classroom learning at home using a parent’s or guardian’s smartphone.
Uolo aims to bridge the gap through parent-teacher communication software
Founded in 2013, Uolo offers an open architecture platform that enables educational publishers and content producers to create physical learning programs for K–12 classrooms and students.
“The edtech solutions need to build on top of the daily six hours spent in school and magnify the outcomes by leveraging the smartphones available at home. The lack of alignment with school, together with exorbitant pricing, is causing edtech companies to falter”, said Pallav Pandey, co-founder and chief executive of Uolo.
The startup claims it currently touches over 3.7 million children and has worked with more than 8,500 schools in India. It provides courses in both coding and English speaking. It intends to roll out more STEM programs in the upcoming months.
“The first wave of edtech companies in India have proven consumer interest in online education. However, they lacked a cost-effective distribution. We believe there will be a new generation of edtech companies capable of building organic, low-cost distribution, allowing students to study at $10 per year rather than $10 per hour. Our investment in Uolo is based on our confidence in this type of company,” said Anton Farlenkov, managing director of Winter Capital.