Chennai based EZ Vidya Pvt Ltd, a parent company which runs Chrysalis, an education reform startup, has raised a pre-series A funding round from Indian education sector focused investor Gray Matters Capital.
The capital raised by the startup will be used to build on its research and development, and to strengthen its multichannel approach leading the company to further target on its goal of improving education in K-12 schools. There are currently 250 million children enrolled in these schools of which 100 million are in the private school segment.
The development was first reported by Economic Times.
According to Chrysalis, “There was a huge and fundamental problem at hand – the education system was killing the human potential in the children in for 15,16,892 private and Government schools in India.”
Chrysalis thus designed solutions that were essential for the child, ones that helped bring out the human potential in every child.
Founded 16 years ago by Chitra Ravi, Chrysalis works closely with schools on areas such as teacher empowerment, curriculum development and administrative processes. We lend our expertise in education and pedagogy to leading organizations in their socio-educational initiatives to deliver high-impact interventions in schools.
“Our mission is to stand up for the child, by reforming the Indian education system in a way that every child realizes his/her human potential. In our estimation, we have more than 15,00,000 schools failing in this regard. We have established a roadmap to bring in a fundamental change in the system by engaging 5 principal mediums – policy makers, government schools, private schools, parents and public, by open-sourcing our intellectual property selectively. We are committed to this mission and were seeking investors who were aligned to it. We found the right fit in Gray Matters Capital, which has a vision to transform human lives using education as a medium”, said Chitra who is also CEO of the company.
Chrysalis’ flagship product is ThinkRoom, a student-centric academic programme based on a ‘Human Potential’ framework developed through 16 years of pedagogic research.
Chrysalis is operational in schools of Tamil Nadu, Andhra Pradesh, Karnataka, Delhi NCR, Haryana, Orissa and Punjab.
On investment in Chrysalis, Ragini Bajaj Chaudhary, India CEO, Gray Matters Capital, said “We see Chrysalis as one of the most innovative, mission driven and student centric educational enterprises in India, which has the potential of bringing about a tangible change in the way education is imparted in our schools.”
In an another funding of education related startup, Ed-tech start up GreyAtom, has raised a $1M funding round led by early-stage fund Pravega Ventures, this month only.
The Educational startups space in India is seeing lot of traction off late, as in recent months number of funding and M&A took place. Just last week, Bengaluru-based enterprise platform for educational institutions CollPoll has raised its pre-series A funding round led by Manipal Global Education Services [MaGE].
In November 2017, AEON Learning Private Limited, which is backed by Kris Gopalkrishnan, acquired Acadgild, an online edtech startup, for $10 million in an all stock deal.
In the same month, an another edtech startup Perspectico raised seed funding from Delhi University and Government of Delhi Incubator.
Additionally, AICTE tied-up with Fourth Ambit, a Kerala-based edtech startup, to connect over 10,000 tech insitutes across India through online portals.