New Delhi: Jaipur-based edtech startup Tinkerly on Thursday said it has raised Rs6.5 crore from Navneet Tech Ventures, a subsidiary of Navneet Education Ltd.
The round also witnessed participation from existing investors, SucSEED Angel Network, Keiretsu Forum, Divyashish Jindal (Doubtnut Head of Academics), Chand Das (former CEO of ITC Education), Saurabh Aggarwal (Fitso co-founder), Marwari Catalysts, and others, a statement said.
The company has raised a total of Rs10 crore, the company added in the statement.
Founded by Sharad Bansal, OP Godara, Kapil Arya, and Vivek Pathak, Tinkerly's blend of toys and vernacular content enables students to design robots, make smart AI gadgets, and write lines of code alongside the live guidance from teachers.
The funds will be used in product development, increasing consumer awareness, and expanding in new geographies with vernacular content as the company aims to create a strong global brand, it said.
The edtech space has seen strong growth globally, including in India, with the COVID-19 pandemic serving as an inflection point. Many offline classes went online to ensure continuity of education while adhering to social distancing norms.
The company's existing reach in more than 6,000 schools and over 100 learning centres allows it to acquire 60 per cent of its users from organic channels at near-zero customer acquisition cost, it added.
"Tinkerly's child-oriented approach towards coding harnesses this enthusiasm and successfully channels it towards a productive learning experience. Programmes like these assist in the development of reasoning and analytical skills. Tinkerly's approach is in the right direction and ensures that our children are future-ready, and as a Company, they are taking a leap in the right direction as well," Ketan Gala, Director at Navneet Tech Ventures, said.
Skwerup Capital Partners advised the company in this transaction.
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(PTI)
