ClassMonitor, an edtech startup providing home learning programs for early learners in the age group of 0-8 years, has raised Rs 10 crore in its pre Series A round from Lead Investor Frontline Strategy Funds; Khimji Family (Muscat) and participation from existing investors Sarvann & Calega Family Office.
The Chennai-based platform will use the fresh funds for expansion and strengthening its dominance in the early education sector.
Edtech Startup ClassMonitor:-
Founded in 2016, by Vijeet Pandey and Vikas Rishishwar, ClassMonitor started off as a messaging platform for parents and teachers which later took the shape of a hybrid early learning tool that provides holistic learning kits for children in the age group of 0-8 years. These highly engaging and well researched kits focussed on experiential, self-paced learning and nurturing parent child bonding. During the starting phase the platform built an O2O model in EdTech. The platform has doubled their user base in the past 6 months and plans to work towards becoming a ’first choice’ early education EdTech brand by 2023. This will be done by complementing their physical presence with digital channels including YouTube which they have recently launched.
With the growth of technology, the platform has identified the need for early education (age group of 0-8 years) to nurture the cognitive abilities of a child, something which has been hampered by unchecked screen exposure. To achieve this, the Indore based start-up works on the fundamental development of a child through five core areas: linguistic skills, logical thinking, sensory and motor skills, cognitive skills, and creativity with the help of their holistic learning kits. Key concepts in literacy, numeracy and science and environmental awareness are integrated with art and craft, role-play and puppetry, music and movement as well as skills such as logical thinking and problem-solving. Important values of empathy, sharing and honesty are also woven into the learning experiences. Each kit comprises 250+ activity sheets, worksheets, flashcards, AR Cards, posters, story cards, game boards, etc.
Investment
Commenting on the announcement, Vijeet Pandey, Cofounder & CEO at ClassMonitor stated, “This is a significant milestone in our journey to become the market leader in early education. I want to thank our existing and new investors for their continued support. This is an unequivocal endorsement of our brand promise and delivery capabilities in establishing a dominant position in the early education segment.
Funding in the edtech space saw a steep fall from $5.82 billion in 2021 to $2 billion in 2022 till August 15, according to our data intelligence platform Marketmoney. In the past two months, Adda247 raised $35 million, Sunstone and Bhanzu raised $35 million and $15 million rounds respectively.
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