Posted by Mumbai: Teachmint, an online teaching platform has raised $16.5 million in a Series A funding round led by Learn Capital. CM Ventures along with existing investors Lightspeed and Better Capital also participated in this funding round.
Bengaluru-based Teachmint is a mobile-first, video-first, teaching platform that enables teachers to seamlessly digitize their classrooms. The platform also enables ease of content delivery, enhanced student engagement and seamless workflow tools.
The edutech startup claimed to be the world’s largest live teaching platform outside China with over 7 lakh teacher registrations. Teachmint’s Series A also marks the first major lead investment in India by Learn Capital, often regarded as the first-ever and leading global edutech VC with early investments in Coursera, Udemy, Brainly, and 50+ global category leaders.
Since the launch in May 2020, Teachmint had three fundraising rounds and it raised over $20 million. The edutech startup will use these funds for hiring top talent, R&D on teaching technology, strategic acquisitions, and further market expansion.
Teachmint has rapidly become the default teaching application in India with end-to-end digitization of live classes, AI-powered automated assessments, admin tools and fee collection.
Teachers, private tutors, coaching operators and freelance educators across the country, covering users in over 1,500 cities and towns have adopted Teachmint. Through Teachmint, teachers are not just engaging their existing students, but are able to access larger student bases across the country, through growth tools like personalised websites, public streaming and social media integration.
Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar – alumni of IIT Bombay and IIT Delhi founded Teachmint. The founding team’s vision is to democratize online education by making online teaching easy and in-turn, increase access to quality teachers for students in India and abroad.
“We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep and extra-curricular learning,” said Mihir Gupta, Co-Founder and CEO – Teachmint.
“We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally and look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause,” added Gupta.
“From the Learn Capital team’s first meeting with Teachmint’s co-founders several months ago, it was clear that their collective team had meticulously architected an end-to-end, multi-modal, and best-in-class solution enabling teachers in India to instantly and seamlessly digitize their classrooms,” said Vinit Sukhija, Partner – Learn Capital.
“Now with over 700,000 teachers, Teachmint has become India’s leading online teaching platform. The entire Learn Capital team is grateful to have the opportunity to partner with the Teachmint team as it progresses towards the company’s vision of democratizing online education in India and beyond,” added Sukhija.