Mumbai-based ed-tech startup Callido Learning LLP is raising $2 million (Rs 13 crore) from a UK-based publisher, a person in the know told VCCircle, refusing to divulge the investor's name.
The person added that the company will use the funds to boost overseas expansion.
Presently, Callido functions in collaboration with 50 schools across countries like China, Japan, Australia, Hong Kong, Nigeria.
Its flagship product is an online course aimed at improving critical thinking, research and writing skills. The course, developed in collaboration with Ivy League faculty and reviewed by Cambridge International Examinations, is available in versions for three age groups: 11-13, 14-16 and 17-18.
The company creates digital tools for developing and assessing critical thinking and problem-solving skills. It has partnered schools in India and abroad. Callido also provides online courses to schools with progressive and international curriculum as well as to academic intuitions affiliated to CBSE (Central Board of Secondary Education) and ICSE (Indian Certificate of Secondary Education) board.
The company designs a full curriculum of step-by-step learning in a gamified fashion. Its courses last 15 hours in every academic year.
Callido was founded in August 2015 by Sriram Subramanian, Madhu Agrawal and Chinmaya Kulkarni.
Deals in ed-tech space
Other ed-tech startups that raised funds recently include Toppr, which secured $100,000 (Rs 65 lakh) last month as part of an extended Series B round from Hong Kong-based early-stage investor Axis Capital Partners.
In the beginning of this month, Buddy4Study raised $3 million (Rs 20 crore) in a Series A round from existing investor CBA Capital, which is backed by the Michael and Susan Dell Foundation.
In early February, CollegeDekho raised $2 million (Rs 13.2 crore) in its third round from London-based Man Capital LLP, Girnar Software and others.
Last month, Pune-based ed-tech startup Rubix108 Technologies secured $1 million (Rs 6.5 crore) in a pre-Series A round led by Polaris Fund.
Bengaluru-based iNurture raised Rs 28 crore in a Series C round led by Ventureast in the last week of January.
AEON Learning Pvt. Ltd raised $3.2 million (Rs 20.43 crore) in a Series B round from MEMG Family Office LLP in the last week of January as well.