Kreedo is an Edtech startup that raised $4 million in its ongoing Series A round from Heritas Capital. The funding round saw the participation of other investors including the Chennai Angels, Gray Matters Capital, USB Optimus Foundation, The Joka Angel, and 1crowd. The company plans to use these fresh proceeds to scale its production, improve its product development, enhance its platform capability, and launch new offerings. The Bengaluru startup uses advanced technology to offer the best learning experience.
The firm was founded by Shridhar and VK Manikandan in 2012 This startup offers a platform to enhance the digital home learning experience. The company collaborates with private schools and preschools to provide content, and practical learning to transform early learning delivery. The platform uses a 6T learning framework that consists of play-based learning with toys, teacher training, teamwork, timetable, theory, and technology. The company also raised $2.3 million from Gray Matters Capital and other investors during its seed funding round in 2022. The company claims to have offered its program to over 1,700 preschools and schools.
The co-founder of Kreedo, Mridula Shridhar mentioned that the company aims to expand the network to more geographies in India. The increased demand from school partners requires extended product offerings. This investment will enable the startup to enhance its digital home learning platform, Practico with cutting-edge skills and technologies to minimize the gap between the academy and industry. The company faces competition from other edtech platforms including Melrose Education, Kom-Eko, and more. The development came after the edtech sector saw an increased interest in India. The edtech startup secured a total funding of 2.3 million USD since its inception.
The company reported a two-times increase in its revenue. The report by Inc42 mentioned that the Indian Edtech sector saw an 88 percent YoY decrease in 2023. The startups in this sector secured 282 USD million in 2023 compared to the $2.4 billion raised last year. The total number of deals secured by this sector saw a 45.91 percent decline to 139 from 257. Despite the drop in fundraising this new funding round by Kreedo highlights the market potential of the firm in this sector. The platform increased the number of children benefiting from its application from 55,000 to 1,40,000 this year.
Conclusion:
Edtech startup Kreedo secured 4 million USD from Heritas Capital in its latest series A funding round along with other investors. The funding round had the participation of the USB Optimus Foundation, the Chennai Angels, Gray Matters Capital, 1Crowd, and others. The startup intends to use this fresh capital to expand its offerings, scale its operations, and enhance its platform capability. The company aims to introduce new categories. The company provides a digital home learning platform for private schools and preschool students. The edtech sector in India has been declining in the past months. Kreedo securing this deal of $4 million highlights the immense market potential of the firm. The investment shows the trust of Heritas Capital in the company’s market potential and business model.
