An Indian startup that began its life after the global pandemic broke last year said on Tuesday it has concluded its third financing round as it enables hundreds of thousands of teachers in the world’s second largest internet market run classes online and serve their students.
Bangalore-based Teachmint said today it has raised $16.5 million in its Series A financing round. The round was led by Learn Capital, the San Francisco Bay Area-headquartered venture capital firm that focuses on edtech firms and has backed some of the world’s most promising online learning startups including Coursera, Udemy, Nerdy, Minerva, and Brainly.
Better Capital, which first invested in Teachmint before the startup had even registered itself, and Lightspeed India Partners also participated in the round, which brings the Indian startup’s to-date raise to $20 million.
Teachmint helps teachers conduct classes online through an app on their Android smartphone. “When the pandemic broke, teachers were exploring several tools including Google Meet and Facebook Live to teach online. They were using several additional tools like Google Forms to assign homework. It was a very difficult experience for teachers. That’s when we started to explore our tool,” said Mihir Gupta, co-founder and chief executive of Teachmint, in an interview with TechCrunch.
Teachmint has built an all-in-one tool that allows teachers to kickstart a live class, do doubt-clearing sessions, take attendance, conduct webinars, collect fees, find new students, offer call support, and take tests among other tasks.
More than 700,000 teachers have signed up on the platform in less than 10 months since the launch of Teachmint’s product, said 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 at Learn Capital, in a statement.
“Now with over 700,000 teachers, Teachmint has become India’s leading online teaching platform,” he said, adding that Learn Capital believes that Teachmint can eventually expand its offering outside of India.
This is a developing story. More to follow…