Genius Teacher (1), an edtech firm founded by Advitiya Sharma, a former co-founder of Housing.com, has secured 2 million USD fundings from top executives in an angel funding round.
Advitiya Sharma started the quiz-based e-learning startup that focuses on the K-12 category after resigning from Housing.com in March 2016.
The firm has received backing from over 50 early-stage investors including, Abhijit Bose, CEO of WhatsApp India, Kunal Shah, CEO of Cred, Sandeep Tandon, Freecharge Co-founder, Dhruv Agarwal, PropTiger, CEO, Justin, Sway, the CEO of MMOne Online. The list also includes Dan Lapus, Cvent Co-founder, Minish Kampani, Let’s Venture President, Gaurav Gupta, the ex-VP of Snapdeal, Bikram Bedi, AWS India, and Farooq Adam, the Co-founder of Fynd.
Moreover, institutional investors like Whiteboard Capital and VKG Ventures LLP have also made investments in Genius Teacher.
The Genius Learning Labs Pvt Ltd offers services to more than 70,000 students as a B2B platform. Sharma plans to expand its services to over 500,000 paid subscribers in the upcoming 9 to 12 months.
Genius to Accelerate its Growth and Build New Products for Teachers
While commenting on the latest investments, Sharma stated that he plans to utilize the latest fundings to build more products for teachers and accelerate its growth for million-plus students in the upcoming 12 months.
While adding further, Sharma stated that India’s K-12 category market is worth about 25 billion USD, with 15,000 to 20,000 average household spending.
Notably, India’s Edtech sector has emerged as the investment destination for both financial and strategic investors. Leading players in the industry, such as Byju’s and Unacademy, are raising several hundred million at a time.
The global private equity firms like General Atlantic, Tiger Global Management, Black Rock, and DST Global has made investments in Byju’s. At the same time, Facebook and SoftBank poured capital into the rival, Unacademy.
Even the smaller startups like Toppr and Vedantu have secured significant sums during the pandemic.
It is safe to say that Edtech has been one of the biggest beneficiaries during the COVID-19 outbreak. The millions of parents are turning towards online courses as education institutes are closed across India.