Teachmint, an edtech startup that enables offline tutors to take classes online, has raised $3.5 million in a seed funding round led by Lightspeed India.
Existing investors Better Capital and Titan Capital also participated in the round. Meanwhile, this is the second funding that the five-month old startup has received in over two months. The Bengaluru-based company had raised its first round of funding in August 2020 led by Better Capital with participation from Titan Capital.
Founded in May 2020 by Mihir Gupta, Payoj Jain, Anshuman Kumar and Divyansh Bordia, Teachmint helps offline tutors and coaching institutes digitize their classes as a mobile-first, video-first platform. It provides an easy-to-use platform for tutors to conduct unlimited live classes, engage students, and manage their classrooms. The platform helps in easy content delivery, business workflow tools, engagement and evaluation models, and allows tutors to create video doubt sessions anytime and from anywhere.
Teachmint aims to make online teaching easy and accessible to all the tutors in India by empowering them with tools to deliver effective learning outcomes for students and parents.
Speaking about the company and on the funding it received, Mihir Gupta, Co-founder and CEO of Teachmint, said in a statement,
“Teachers are at the centre of a great education experience, and this is what will truly unleash the power of edtech. Our mission is to enable millions of outstanding tutors in India to take their classes online by leveraging Teachmint as their tech backbone. We are thrilled to partner with Lightspeed and our existing investors to continue to ramp up access for tutors across the country and beyond.”
According to a press statement, the startup will use the latest funds to build out its product suite, introduce new offerings, and increase its geographic reach. Teachmint’s services are already available in 10 regional languages, apart from English.
Commenting on the funding, Harsha Kumar, Partner at Lightspeed India, said in a statement,
“India’s tutoring and coaching market is estimated to be over $25 billion, is fragmented into millions of tutors and coaching centers, and Teachmint is ideally placed to not just enable this market but potentially expand it further. We are very excited to partner with the team who from day one has demonstrated product-first thinking and deep market understanding.”
The Bengaluru-headquartered company said it currently has more than 120,000 tutors spread across over 1,000 cities and towns on its platform.
Earlier last month, Teachmint said the company has witnessed 20X month-on-month growth. It claimed that within four months of its launch, its platform has been used by more than 75,000 tutors from across the country. The company said that tutors from all corners of the country, including those in union territories like Jammu & Kashmir and Andaman & Nicobar, are being able to register themselves on Teachmint, embark on the journey to teach more students and build a thriving business online using its platform.