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Incubate Fund India leads seed funding in ed-tech startup WizKlub
Photo Credit: Pixabay

Ed-tech startup WizKlub Learning Pvt. Ltd has raised Rs 7 crore (around $1 million at current exchange rate) in seed funding led by Incubate Fund India, backed by Japan’s Incubate Fund, and joined by social-impact investor Insitor Impact Asia Fund.

Founded by Amit Bansal in February 2018, Bengaluru-based WizKlub develops artificial intelligence-based programmes for children between five and fifteen years. The seed round takes the total capital it has raised so far to Rs 9 crore.

The startup will use the latest fund infusion for its product and market expansion. Bansal said WizKlub’s higher order thinking skills (HOTS) and SmartTech programmes have been designed keeping in mind supplemental education and technology adoption by children.

While the HOTS initiative focuses on the development of reading and problem-solving skills, the SmartTech programme is aimed at imparting technological know-how through coding, robotics and smart devices. WizKlub says the startup is active through more than 150 centres in Bengaluru, and that over 3,000 children have progressed through its programmes.

Deals in ed-tech

The larger ed-tech segment in India has been the object of investor attention over the last few years, with companies such as Byju’s and Unacademy scoring big cheques from marquee names.

Earlier this month, James Murdoch-led Lupa Systems acquired a majority stake in Indian online learning startup Harappa Education Pvt. Ltd. Also, this month, growth-stage investor Iron Pillar led a Rs 60 crore (around $8.3 million) Series B round in Testbook, which operates a platform focused on government examination preparations.

In December last year, career upskilling solutions provider Springboard raised $11 million (around Rs 78 crore) in a post-Series A financing round led by education-focused Reach Capital. Other investors included Pearson Ventures and the World Bank’s International Finance Corporation (IFC).

In October, Info Edge (India) Ltd, which owns and operates portals such as job site Naukri.com and also recently floated a VC fund, said it invested Rs 7.06 crore (a little less than $1 million) in Adda247, a test-preparation platform for government and public-sector exams.

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