Ed-tech startup Board Infinity has raised Rs 2.2 crore ($118,440) from a clutch of angel investors including Maheshwer Peri, founder of online career counselling and education services firm Careers360.
Other investors who put in money in the company include Ambarish Raghuvanshi, former CFO of Info Edge (India) Ltd; Vishal Soni and Ritu Soni, founders of health and wellness startup RoundGlass Obino; and Manish Gupta, founder of ed-tech accelerator UINCEPT.
Nirmal Singh, founder of Atraxn LLP; Sridhar Rallabandi, a former president at Axis Bank; and Angel Network Middle East, invested as well.
Individuals from companies such as Bain & Co, DBS, Tata Group, Expedia, Microsoft, Flipkart, Xiaomi and GE also participated in the funding round, Board Infinity said in a statement.
Board Infinity, operated by Learnture Ventures Pvt. Ltd, was founded by in 2017 by Abhay Gupta and Sumesh Nair. It is a higher education coaching and career management platform.
The company will use the funds to improve its technology platform and expand its customer base in smaller cities.
Prior to founding Board Infinity, Gupta worked with Future Group while Nair worked as a senior consultant at PwC, according to their LinkedIn profiles.
Ed-tech funding deals
There have been several deals in the ed-tech sector over the past year.
Bengaluru-based Byju’s emerged as a unicorn, valued at $3.8 billion, in December last year after it raised $540 million in a round led by South African tech conglomerate Naspers. Canada Pension Plan Investment Board contributed a big portion to the funding round.
Mumbai-based Toppr raised $35 million in a Series C funding round from investors in December last year.
Last month, education networking portal LetzConnect Technologies Pvt. Ltd raised an undisclosed amount from investors including SucSEED Venture Partners. In May, SucSEED also backed Delhi-based Xplorabox, which offers a subscription-based activity box for children.
In April, Mumbai-based ed-tech firm WhiteHat Jr raised Rs 9 crore in a seed funding round from Nexus Venture Partners and early-stage investment firm Omidyar Network India Advisors.