Edtech company Campus 365 Edunet Pvt Ltd has raised Rs 2.15 crore in seed funding led by Bengaluru-based angel investors, the company said on Thursday, without giving any further financial details.
Campus 365 will use the fresh capital to roll out new products and strengthen school network in tier 2 and 3 cities.Besides, the platform will create new jobs across its operations and make strategic buys with the fundraise.
Founded in 2017 by Mayank Singh, Sandeep Verma, and Shashank Trivedi, Campus 365 claims to have a SaaS (software-as-a-service) platform that integrates school curriculum, teaching methods, and vendor resources.
The company said its platform has features that track the productivity of students and their grades, adding that it also tracks students’ reports and assignments.
The platform provides an online and hybrid model (physical and digital) in classrooms for students from kindergarten to the 12th grade and claims that average percentages of students have improved to 75% from below 50% since its adoption.
The company claims to cover over 1,000 schools and 400,000 students in the country and aims to cater to 30,000 institutes in the next five years.
"We are eagerly looking forward to reaching out to the 1.5 million schools and 260 million school-going children in India so that we can transform the arc of education in this country. Our investors are known as a specialised edtech fund that backs innovation-oriented education companies," said Mayank Singh, Co-Founder and Chief Executive Officer, Campus 365.
Campus 365 claims that it is the first edtech company to raise funds in 2022. The space has seen quite a few fundraises in 2021 as many companies were raising funds aggressively in a bid to tap the rising demand for remote learning.
Just as Campus 365 is eyeing strategic acquisitions, many edtech firms in 2021, which raised funds aggressively, deployed for the money for acquisitions. VCCircle had reported that the five edtech unicorns--Byju's, owned and operated by Think and Learn Pvt Ltd, Unacademy, owned and operated by Sorting Hat Technologies Pvt Ltd, Vedatu Innovations Pvt Ltd, upGrad Education Pvt Ltd and Eruditus Education Pvt Ltd together had invested about $3 billion in acquisitions.