Edtech firm Stones2Milestones raises bridge funding
Photo Credit: Pexels

Stones2Milestones Edu Services Pvt Ltd, which is focussed on English language skills, has raised Rs 19 crore ($2.55 million) in a bridge funding round.

The round in Gurugram-based Stones2Milestones has been led by Unreasonable Capital and its Limited Partner (LP) Goldhirsh Foundation, Inc42 reported.

Other participants in this round include angel platforms LetsVenture, the AngelList US Syndicate, and the FAAD Network. Angel investors including members of the investment banking and legal community also took part in this exercise.

Stones2Milestones, set up by Kavish Gadia and Nikhil Saraf in 2016, operates properties such as the Freadom application and the Wings of Words programme. According to its website, it focusses on promoting language proficiency, as well as the development of critical skills.

It also allows for its products to be integrated with school calendars and language curriculums and offers study and teaching material as well. VCCircle has reached out to the startup on the details of this fundraise and will update this report accordingly.

The company will use this capital to scale its overall growth as well as visibility through social media and marketing efforts, Gadia said, per the report. It will also acquire talent for its technology teams and is planning to enter international markets by January next year.

According to VCCEdge, the data research arm of Mosaic Digital, other investors in Stones2Milestones include Menterra Social Impact Fund and Godspeed Advisors Pte Ltd.

The company raised an undisclosed sum from early-stage and impact-focussed Menterra in December 2018. The investment was part of a $2 million (around Rs 14 crore) infusion by the venture firm in four companies.

In July that year, it raised another undisclosed sum from Unreasonable Capital, which is a United States-based early-stage firm. That bet marked Unreasonable Capital’s maiden Indian investment. Before that, Stones2Milestones raised Rs 2 crore in 2016 from angel investors.

Leave Your Comment(s)