funding news
funding news

Edtech platform Spardha raises Rs 3 crore in pre-Series A1 round led by IPV

Edtech platform Spardha has shown an exponential growth of over 10x in the last 12 months and has over 5,000 registered users and over 1,300 users in India and the US.

A Delhi-based Edtech platform Spardha, which provides learning music and performing arts, has raised Rs 3 Crore in a pre-Series A1 round led by Inflection Point Ventures (IPV), along with a few US based HNIs.

The digital tech platform was founded in 2016 by Saurabh Srivastav and Amrita Srivastav and in the pandemic the startup has seen an extreme growth of over 10x.

The digital platform will be using the investment in branding and marketing, hiring new talents for the sales and products team, curriculum development and enhancement, digital platform enhancement, and expanding presence in four new global markets, which includes the UK, Singapore, Canada, and Australia.

Speaking about the association, Saurabh Srivastav, Co-founder and CEO, Spardha said, “Success of any startup directly depends on how fast you can get the knowledge of the industry and channelise it towards materialising company goals. For a founder like me, IPV is like a mentor to us with all required knowledge so that we can make our decisions fast and accurately which adds to the profitability of the startup.”

“Spardha has a large network of seasoned SMEs across various business functions like product development, marketing, sales, finance, etc., who are willing to extend their support in solving our key challenges,” the co-founder added.

Commenting on the investment, Ankur Mittal, Co-founder, IPV, said,

“Music is a genre, which is driven by hobby and passion. Spardha is tapping into the music-loving audience who wants to learn new instruments and vocals for many reasons. Music improves focus, acts as a meditation tool, and enables us to learn faster and become more creative.”

He added, “Spardha has found early adopters in users of all age groups across India and the wide Indian diaspora in the US. Its future plans include expanding both the markets and the product offering to include a wider user base. Spardha has the potential to replicate the success of some of the leading Edtech companies, which have similar appeal across other verticals.”

IPV was started in 2018 and plans to invest Rs 155 crore in 2021 across 60 startups.