ODA Class is an Edtech startup that raised $500k in its ongoing series B funding round from Skywalker Education Technology. The funding round saw the participation of other investors including Matrix Partners China and Daituzi Education Technology. The company plans to use these fresh proceeds to scale its production, improve its marketing efforts, enhance its platform, and develop market presence. The Bengaluru startup uses advanced technology to offer a seamless learning experience.
The startup provides a digital platform for live online courses for classes 1 to 10. The company offers a dual-teacher system: one teacher provides live tutoring while another solves doubts and makes reports for mentoring. The classes are conducted through virtual platforms for school students. The platform uses artificial intelligence technologies and innovative marketing strategies to provide high-quality content and learning experiences at affordable prices. The startup collaborates with educational institutes like IITs and NITs to provide services.
The edtech startup intends to use this investment and enhance its brand visibility while increasing its customer base. The company secured 9 million USD during its funding round followed by $3 million in 2022. ODA Class also secured $250k from existing investors in 2023. The company is focused on transforming the edtech sector by offering innovative solutions in tech education across India. This investment will enable the startup to reduce the gap between the academy and the industry. The development came after the edtech sector saw increased investor interest. The platform claims to have served over 25,000 long-term students and aims to enroll over 100k students in 2024.
The company reported an increase in its revenue to Rs 65.81 crore in FY24. However, the company minimized its losses and the overall cost stood at Rs 85.20 crore in the same duration. The report by Inc42 mentioned that Indian Edtech startups had around 88 percent YoY decrease in funding and raised around $282 million in 2023 compared to $2.4 billion raised in 2022. The total number of deals decreased by 45.91 percent to 139 from 257 in the edtech market for the same year. The company faces competition from other edtech platforms including BYJU, Unacademy, Vedantu, and Kreedo.
Conclusion :
Edtech startup ODA Class secured 500k USD from Skywalker Education Technology in a series B funding round with other investors. The funding round saw the participation of Matrix Partners China and Daituzi Education Technology. The startup intends to use this fresh capital to expand its offerings, scale its operations, expand its network, and enhance its platform capability.
The company aims to improve its marketing strategy and transform the detection sector in India. The company provides a digital learning platform for school students from Class 1st to Class 10th. The edtech sector in India has been declining in the past months. ODA Class securing this investment highlights the market potential of the platform. The funding round shows the trust of investors in the startup’s market potential.
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