The fresh capital will be utilized by the Trivandrum-based start-up to enhance and diversify its offerings, as well as to bolster its sales and marketing operations.
IAN, the single largest horizontal seed stage platform in India, has made an investment of Rs 3.5 crore in edtech startup ConceptOwl. The fresh capital will be utilized by the Trivandrum-based start-up to enhance and diversify its offerings, as well as to bolster its sales and marketing operations.
The funding round has been led by prominent investors, KRS Jamwal and Mitesh Shah, along with Ankit Somani who will join the company’s board to further help the startup scale.
Rajan Singh, Founder and CEO, ConceptOwl, said, “Although online courses do exist, students mostly find learning in a classroom setting more comfortable. It is understandable as it is difficult to not get distracted by other functions of a digital device at such a tender age. It is here that ConceptOwl steps into the picture. We deliver quality education to students through a team of trained instructors and a vault of engaging video content at extremely affordable prices.”
Ankit Somani, Lead Investor at IAN, added, “On one hand, there are multiple coaching centres in India that follow the traditional in-classroom style of teaching. On the other hand, there are edtech teaching platforms that impart self-paced learning entirely through the digital medium. ConceptOwl combines the best of both worlds. It is this innovative model which assures us of the merit of our investment. We eagerly look forward to helping this high-potential startup to transform the Indian coaching landscape for the better.”
“We are thankful for the support we have received from IAN. We will utilise the investment to further bolster the quality of our current offerings while bringing more vernacular languages into the scope of our services, and to boost our marketing and sales,” Rajan further stated.