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Ed-tech startup Illumnus Education raises seed funding

By Narinder Kapur

  • 19 May 2020
Ed-tech startup Illumnus Education raises seed funding
Credit: Pixabay

Illumnus Education Technologies Pvt. Ltd, which operates an eponymous education technology startup focussed on developing collaborative learning management systems, has raised $100,000 (approximately Rs 75.61 lakh at current exchange rates) in seed funding.

The company has raised this capital from a clutch of high net-worth individuals and angel investors from Dubai, Illumnus said in a statement. However, it did not disclose the identity of its backers.

The Pune-based startup will use the funds to expand its services to four countries by the end of this year, Akash Deep Singhal, co-founder at Illumnus, said.

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“We have already doubled our team to build a scalable software-as-a-service-based LMS platform that educational institutions have always deserved but never got,” he added.

Illumnus was set up last year by Singhal and Akshaya Singhal. Before the ed-tech firm, Singhal had co-founded Medd, which was acquired by 1mg in 2016.

Illumnus says its C-LMS platform provides educational institutions with internal digital learning networks, allowing for simpler communications and workflows between students and teachers.

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Separately, the investor group said they were confident of their bet on Illumnus because of the company’s end-to-end offering and the larger potential of the B2B ed-tech space. Apart from its student-teacher suite, the firm also provides tools to school administrations and parents for real-time monitoring and performance tracking.

Deals in the ed-tech segment

This investment in Illumnus is the latest example of investor attention to the ed-tech space. While startups such as Byju’s and Unacademy have made the headlines for the large-ticket investments by marquee investors and global corporations, there is a steady stream of early-stage startups raising funding as well.

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On Monday, VCCircle reported that Any Time Classes Educational Services Pvt. Ltd, which operates an eponymous education startup focussed on app-based visual content, had raised funding from the Mumbai Angels Network.

Last month, the government exam-focussed Pariksha raised an undisclosed sum of funding as an extension of its pre-Series A round. The extension exercise was led by INSEAD Angels, with participation from IIT-Kanpur Angels, Nikhil Vora and Swati Mehra of Sixth Sense Ventures, among others.

That month, online tutorial platform Lido Learning raised around $13.5 million as part of its Series B financing. Also in April, venture capital firms Matrix Partners and SAIF Partners invested $4 million (Rs 30 crore) in ed-tech platform Camp K12.

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