New Delhi-based an augmented reality-based ed-tech startup, Smartivity has raised $1 million in a pre-series A round of funding led by publishing firm S Chand and early-stage investment firm AdvantEdge Partners.
Other investors who also participated in the round include Singapore-based fund CFG Offshore Holdings and Silicon Valley-based fund Tandem Capital and a clutch of angel investors.
With this round of funding, the company aims to expand its current portfolio in STEM and augmented reality products to provide interactive learning to kids and also develop IoT (internet of things)-enabled toys and robot-led learning for kids. The funds will also be used to expand its reach and aim for the global market.
In October 2015, the firm which was started by three-IIT Delhi alumni Ashwini Kumar, Apoorva Gupta, Rajat Jain along with Tushar A Amin, had raised $200,000 in a seed round of funding.
The Delhi-based startup has two broad product ranges—STE(A)M (science, technology, engineering, arts and mathematics) learning-based do-it-yourself kits, which have a fundamental scientific concept at the core of each activity, and Smartivity EDGE, their augmented reality-enabled learning activities. It uses augmented reality, a technique that enables superimposing digital objects over physical ones, to help kids understand various concepts.
The user has to download the Smartivity EDGE application, which is available on both Android and iOS to experience the augmented-reality platform.
"Smartivity has shown tremendous growth over the past 12 months with a high focus on product design and execution and has built a portfolio of innovative products," said Gaurav Jhunjhnuwala, director of S Chand Group.
In March this year, S Chand also invested $1 million in Bangalore based home and online tutoring startup FlipClass, along with Blume Ventures. Just four days back, education technology platform Unacademy has raised $500,000 in a funding round led by Blume Ventures.
Image Source: ShutterStock
Advertisements