Edtech startup Tinkerly will be using the funding in product development, catering in new markets and brand awareness.
On Wednesday, Tinkerly an edtech startup raised Rs 6.5 crore from Navneet Education & other existing investors SucSEED Angel Network, Keiretsu Forum, Divyashish Jindal (Head of Academics at Doubtnut), Chand Das (Former CEO of ITC Education), Saurabh Aggarwal (Co-founder Fitso, Acquired by Zomato), Marwari Catalysts, and others.
After completing this round the startup has raised Rs 10 crore in total up till now.
Commenting on the funding, Ketan Gala, Director, Navneet Tech Ventures, said,
“Every child’s hope and dreams have no boundaries. 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.”
The edtech startup Tinkerly claims that they have outgrown upto 8X in the past three month since they launched the new version of learning platform, Let’s Tinker in April of this year.
The platform has 50,000+ online learners who have consumed over 300,000 hours of learning. Its existing reach in 6,000+ schools and 100+ learning centres allows the startup to acquire 60 percent of its users from organic channels at near-zero CAC.
Tinkerly’s Co-founder and CEO Sharad Bansal added, “The fresh capital will multiply our efforts to rapidly grow the online user base and invest in technology. Tinkerly’s unique (Kit + Live Class) courses combined with Navneet, India’s most loved education brand that carries a 6-decade old legacy, will set new benchmarks of learning outcomes and spark the joy of making among students across the globe.”
Prior to COVID-19, exposure to robotics or coding was limited to students studying in less than one percent of total Indian schools, the startup said. With the adoption of online learning, access to quality learning has been democratised.
Tinkerly’s unique blend of toys and vernacular content enables students to design cool robots, make smart AI gadgets, and write unlimited lines of code alongside the live guidance from teachers in their first language all at one place.
Dhiraj Sinha Kumar, Co-founder of SucSEED Angels Network, said,
“We are proud to be a part of Tinkerly and to support it since we first invested in 2018. It’s great to witness Tinkerly consistently demonstrating its value proposition by using STEM innovatively and helping students to learn and grow. We believe that investment by a large publishing house like Navneet validates the potential of STEM education in India, and with re-opening of schools, its growth will further strengthen.”