The Bengaluru based Edtech startup Teachmint will be using the freshly raised funding to strengthen its technology stack, enhance the experience of live teaching and improve its product.
Teachmint a Bengaluru based online teaching platform, has raised $20 Million in a Pre-Series B round led by Learn Capital, the startup also saw the participation from CM ventures.
According to a statement, the Edtech startup Teachmint will also focus on using the funding in hiring new talents and expanding itself in new markets.
Teachmint is a mobile and video-first teaching platform built exclusively to help teachers digitise their classrooms. The company was founded by alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy and Roposo, namely Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar in 2020.
Speaking on the new development, Mihir Gupta, Co-founder and CEO at Teachmint said,
“It has been truly humbling to see the widespread adoption of Teachmint by teachers and students across India. With our platform usage growing 25x over the last quarter, we are becoming the default teaching application in India and the largest live teaching platform globally, outside China.”
“Over the past year, we have brought together some of the top minds in product and engineering to address the big technology-infrastructure gap in teaching and learning through our proprietary platform. Our mission is to empower every teacher through technology and significantly transform the learning impact for students across the globe. We are excited to have continued support of Learn Capital and CM Ventures in this mission,” he added.
In May 2021, Teachmint raised $16.5 million in Series A funding led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital. This is Teachmint’s fourth round of fundraise in roughly a year from its inception, making it the fastest EdTech startup in India to raise $40 million.
With this latest round of funding, the company has also seen a 3x jump in its valuation in just two months.
In addition to this, Teachmint is now ranked as the #1 top free education app on Google Play Store, an indication of the platform’s immense popularity and widespread adoption by educators across the country, stated the company.
Vinit Sukhija, Partner at Learn Capital added, “In just 12 months, Teachmint has blossomed from a nascent idea to the #1 ranked education app in India – an unprecedented growth narrative for an Indian edtech company. This market resonance is a testament to the Teachmint team’s ongoing commitment to authentically incorporating teachers’ perspectives into the company’s ever-expanding suite of market-pioneering digital teaching tools.”