Hyderabad- and US-based Bulbul Inc., which develops learning apps for pre-school kids, has raised Rs 3.5 crore ($500,000) in a fresh round of funding, the company said in a press note.
The following took part in the round: Hyderabad-based early-stage investment firm Xseed Partners, digital consulting firm Anblick Solutions Pvt. Ltd, sector-agnostic angel fund Operator VC, and Infoblob.
The funding will be utilised to expand the outreach for pre-schools’ digital interactive learning solutions and launch a new My Preschool App, the note added.
“Early childhood education is crucial and it is nice that both parents and governments are waking up to it. This creates a huge untapped market potential,” Ajay Jain, principal co-founder of Xseed Partners, stated.
This is the third round of funding, going by Bulbul’s statement. Bulbul had raised $1 million in 2016 and $200,000 in seed capital in 2015.
The company was founded in 2015 by former Tech Mahindra and FedEx executive Prakash Dantuluri. Bulbul develops apps for children, aged two to seven, that allow storytellers, artists, and academicians to create content.
Each topic in the curriculum is imparted through 30 minutes of engagement and repeat interactions. The app also has a parent’s feature, which will offer insights into the child’s progress.
The company said it has an app studio at Hyderabad, comprising 16 developers and 10 artists.
“We have signed half-a-dozen franchisors and have a strong pipeline of clients, with Kangaroo Kids as the biggest customer. Our target is to go live in 300-plus schools this academic year, with close to 50,000 parent subscriptions. We are also working with a leading vernacular organisation in the US,” Dantuluri stated.
Recent activity in ed-tech space
The ed-tech space has seen a mix of acquisition and funding activity in recent times. Last month, Arrina Education Services Pvt. Ltd, which runs online interactive learning solutions platform Talentedge, acquired a significant majority stake in Hyderabad-based GreyCampus Edutech Pvt. Ltd for an undisclosed amount.
In December last year, Mumbai-based Toppr Technologies Pvt. Ltd raised $35 million (Rs 245.19 crore then) in a Series C funding round from new and existing investors.
In the same month, Bengaluru-based Think and Learn Pvt. Ltd, which runs ed-tech startup Byju’s, raised $540 million (Rs 3,855 crore then) in a round led by South African tech conglomerate Naspers.
Also, PlanetSpark, a Gurugram-based gamified learning solutions startup, raised Rs 1.6 crore from FIITJEE Ltd, a test-preparation company backed by Matrix Partners India.