Virohan, an edtech startup focussed on healthcare, on Thursday said it has raised an additional $1.3 million in funding from its existing investors before the Series B raise.
Investors are Keiretsu Forum, Priya Shah, general partner at Theia Ventures, Better Capital, Vikas Gambhir, partner at Grant Thornton, and Joydeep Bhattacharya, partner - Bain & Co.
The company said it is planning to use the fresh funds to expand to new geographies in India. The startup said it is planning to use new funds to develop newer training programs, content in vernacular languages, and develop technological forefront. It aims to scale its current omnichannel training platform infrastructure and develop new features.
The additional funding brings Virohan’s total funding to $4.3 million since its launch, including a Series A round announced in May 2021 that saw participation from Rebright Partners.
The edtech startup said it is in talks to raise $7-10 million in Series B later this year.
Virohan operates hybrid classrooms on campuses and does online training across India in cities including Delhi, Faridabad, Pune, Raipur, Meerut, and Nagpur.
“We are thrilled that our investors and the youth of our country believe in, and support the massive healthcare training need. Their decision of the investors to re-invest gives us a further vote of confidence on our goal to train over 2,50,000 youth by 2025,” Kunaal Dudeja, CEO and cofounder, said.
Similar deals in edtech
The edtech market has witnessed frenetic funding and M&A activity in India since the onset of the coronavirus pandemic last year.
VCCircle reported that Amsterdam-based Global University Systems has acquired a 100% stake in Indian education firm Edvancer Eduventures Ltd that offers online certification courses in data sciences.
Vernacular edtech platform Vidyakul raised an undisclosed amount in a financing round from Dholakia Ventures and other angel investors. Similarly, Bengaluru-based ForeignAdmits raised Rs 3.5 crore in a seed funding round led by Unicorn India Ventures.
In July, Teachmint Technologies Pvt Ltd, focused on tutor-student connectivity had raised $20 million (Rs 149.4 crore) in a pre-Series B funding round led by global edtech-focused venture capital firm Learn Capital.
In September, Expertrons, an edtech startup focusing on professional growth raised an undisclosed sum from Cred founder Kunal Shah and Microsoft India president Anant Maheshwari.
Other edtech startups have also attracted significant funding during the pandemic. Just last week, Creative Galileo raised $2.5 million in a financing round led by Kalaari Capital.
ForeignAdmits raised Rs 3.5 crore in a seed funding round led by Unicorn India Ventures.