Inventus leads $2m investment in eDreams Edusoft
Inventus Capital Partners and Mumbai Angels have backed Indian education software company eDreams Edusoft with $2 million in a second round of funding.
eDreams has developed a cloud-based teaching program for students, which can be personalized for each user. The Bangalore-based company will use the funds to expand the software-as-a-service beyond South India, in cities such as Delhi and Kanpur.
According to The Economic Times, the product is currently only for mathematics tutoring, but eDreams plans to develop similar tutoring tools for Science and English. The software costs between INR150-300 a student per month and is used by over 20,000 children in over 30 schools.
eDreams was founded in 2010 and received $1 million in funding from Mumbai Angels in 2012.
This year investments in the Indian education sector have included Kae Capital taking a minority stake in Intap Labs, the start-up behind CultureAlley.com; Indian Angel Network investing in RankJunction.com, and Avigo Capital and Matrix Partners India's INR1 billion investment in education service provider Maharana Infrastructure and Professional Services (MIPS).
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.