Bangalore-based Paratus Knowledge Ventures Pvt. Ltd. owned edtech startup Fundamentor, has raised seed round from entrepreneur and former venture capitalist Subramanya SV, co-founder of investment management startup Fisdom. He was previously MD of VC firm Bessemer Venture Partners, and has served on the boards of Snapdeal, TaxiForSure and Matrimony.

The startup is also in talks with Indian Angel Network (IAN) for additional funds and aims to enhance marketing initiatives. It plans to use the funds to ramp up hiring and product development. The company aims to get one million subscribers by 2020.

Founded in September 2014 by Ankur Vohra, Bhargavi AR, Amol Patkar and Amit Vashisht, Fundamentor is a mobile and web based platform that enhance the Quantitative, Verbal, Data inference & Creative thinking aptitude in school students. It uses methods which students enjoy, ensuring effective aptitude development. It claims to have 3,000 paid subscribers.

Ankur holds a Mechanical Engineering degree from Delhi College of Engineering and an MBA from IIM- Ahmedabad. In his corporate avatar, he served as a strategy and process consultant for automotive, industrial and education sectors. Bhargavi holds a Mechanical Engineering degree from Delhi College of Engineering and an MBA from Faculty of Management Studies, Delhi, previously served as a strategy and process consultant for automotive, telecom and NGO sectors. Amol holds a Mechanical Engineering degree from Delhi College of Engineering and an MBA from IIM-Calcutta, previously worked in customer centric roles across industries like insurance, banking and technology. Vineet is an MBA Graduate from University of Notre Dame. He has worked for Finance, Technology and Hospitality sector Fortune 500 companies in US and Canada.

Other players which operating in edtech space are Unacademy, raised $500,000 in funding led by Blume Ventures along with a clutch of angel investors and Byju’s secured $75 million from Sequoia India and Belgian investment firm Sofina, in March.

Just three days back, New Delhi-based Smartivity Labs Pvt. Ltd, an edtech startup that uses augmented reality and robotics for learning projects for kids, received $1 million in a pre-Series A funding round led by its existing investor S Chand & Co. Pvt. Ltd and early-stage investment firm AdvantEdge Partners.

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