Angel network FAAD Network has led an angel funding round in Navars Edutech Pvt Ltd, an astronomy and space edtech company that caters to school students.
Sravan Varma Datla, cofounder and CEO of Navars Edutech, told VCCircle that the company will use the funds primarily for marketing and expansion in India and global markets. Datla did not provide financial details.
The angel network typically invests $50,000 to $500,000 at the seed and pre-Series A stages.
Navars Edutech was founded in 2015 as a partnership firm. It was incorporated in late 2019. The startup offers online astronomy courses, astronomy DIY kits, planetarium shows on school premises, and astronomy labs and experience centres. It also hosts National Science & Astronomy Olympiad (NASO) that has seen participation from over 50,000 students across 13 countries.
The startup claims it has served over 800 schools and reached over 300,000 students across 13 countries.
Datla noted that astronomy has gained traction with its inclusion in National Education Policy (NEP) 2020 and with recent announcements and accomplishments by Indian Space Research Organisation (Isro).
Apart from Datla, Navars Edutech’s other co-founder is Shanthala Gopal, who is responsible for content and operations. Dinesh Prasad, who is on the board of directors, is also part of the core team looking after strategy, marketing and investment.
Aditya Arora, CEO at Faad Network, said that space is full of mysteries and has been evolving as an interesting subject lately.
"Navars Edutech perfectly fits into the theme for us by teaching astronomy and space technology courses to students from Class 4-12th. We see the adoption picking up and believe in the competence of the team to deliver on the ground," he added.
FAAD Network's origin dates back to 2015. It was founded by Karan Verma and Dinesh Singh, and started by providing an array of startup services such as legal, content services and public relations, business documentation and co-founder matchmaking. Aditya Arora joined the group as an intern in 2016 and was promoted to the post of CEO in early 2019. It set up its angel network in late 2019.
It has a sector-agnostic approach but is building its focus on edtech, online gaming, and healthcare and wellness. It also aims to invest in startups engaged in augmented reality/virtual reality technologies and digital apps.
FAAD Network's investments include Huviair, a cloud-based productivity enhancement platform for construction and mining industry; Blu Smart, an electric taxi-hailing and riding platform; and Saarthi, an educational platform that helps aspirants to prepare for government jobs.