Avishkar an Edtech startup will be using these freshly raised funding in product development, hiring new talents and expansion of its user base in Tier I and Tier II cities.
A New-Delhi based Edtech startup Avishkar has raised Rs 5 Crore funding in pre-Series A round of funding in which Auxano, Mumbai Angels, Alok Mittal, angel investor & Co-founder and CEO, Indifi Technologies; and Varun Aggarwal, Co-founder, Aspiring Minds, participated in the funding round.
Avishkar was launched in 2014 with the aim on robotics, AI, coding and App development for children between 5 and 15 years of age through its software and hardware products.Earlier the startup had raised Rs 5 crore as a seed funding from existing investor Auxano in February 2018 and utilize the funds towards expanding its presence across country in schools and launch new products.
CEO and Co-promoter of Mumbai Angels Network, Nandini Mansinhka said, “Edtech is one of the most rewarding sectors which has gained tremendous growth due to pandemic ”.
“Having launched new product lines along with creating new verticals, strengthening the leadership and operational teams, Avishkaar is poised to reach greater heights,” Brijesh Damodaran Nair, Founder & Managing Partner, Auxano, added.
Understanding challenges and solving them
One of the biggest challenges for the company was to make the product easy to understand and become more like a DIY project for the students, without seeking much help from the parents.
As Pooja Goyal, Co-founder and COO, Avishkaar explained, they took a few steps to address this challenge.
First, they built a lot of self-explanatory interactive video content as explainers for the kids to learn from. Secondly, they utilised their existing resource of Avishkaar teachers who are trained in robotics, coding, and are well-versed with Avishkaar kits to initiate live online classes for the students.
“Next, we are also focused on creating an online community of students, mentors, and teachers to interact well with their peers,” she added.
Both the cofounders accept that with the ongoing second wave of Covid-19, the uncertainty continues. The team is now focused on building a product that allows students to be more creative and innovative.
“We are also working on initiating and taking our students to more competitions to showcase their talent and virtualisation of our courses. Also, over the past year, we have received interest from international students as well, so innovation and expansion will definitely be on cards this year,” added Tarun.
In this fiscal, the founders will continue to stay focused on stabilising their supply chains throughout the year without any glitches, ensuring there is enough inventory and hassle-free delivery experience.
Of late, more deep-pocket players like Whitehat Jr and Vedantu among others have been battling for market share in the coding and robotics learning space. However, Avishkaar founders are optimistic and believe that continuous innovation and obsessive customer orientation is the key.
“We are working with the next generation to think imaginatively. Most competitors are taking a platform approach wherein they are aiming to build a lot of online learning verticals. However, we aim to stay focused on our mission to help children learn and imbibe the next-generation technologies and continue to build on that kernel,” added Pooja.