TagHive, a Samsung Ventures-backed EdTech startup that offers AI-powered self-assessment solutions for students, announced that it has raised $2.5 million in Series A funding led by Forest Partners, an alternative investment firm based in South Korea.
According to a press statement, the South Korea-headquartered TagHive plans to use the funds to ramp up technology upgrades and expand local teams in India to meet the growing demand for its smart learning platform.
Founded in 2017 by Pankaj Agarwal, TagHive aims to improve classroom learning with smart technology. Its product ‘Class Saathi’, is an AI-based clicker solution created to improve student engagement and participation in the classroom. Class Saathi consists of a clicker for each student and a mobile app for the teacher. Teachers can use the mobile app to look at classroom content and ask quick quiz questions. Students can then respond to the questions with their individual clickers, allowing teachers to access the answers in real-time to see which students need more personal attention.
TagHive is on a mission to solve education inequality and to disrupt India’s public schooling ecosystem by improving classroom learning with smart technology.
Commenting on the funding, Founder and CEO of TagHive, Pankaj Agarwal, said, "This recent funding will help us upgrade our technology to meet the needs for better education tools in India, which is more important now than ever due to the pandemic. Going forward, we plan to continue to bring innovative tech-driven learning solutions to expand our footprint in India, South Korea, and other markets."
The company believes in the power of education in the enrichment of students' lives, TagHive makes its solutions affordable and easy to access. From government schools in India to individual students across the country, it helps educators and students improve their teaching and learning with technology.
Founding Partner at Forest Partners, Alex Seung Han, added, "We are confident and highly impressed by TagHive’s team and ability to execute its plans to deliver much needed smart learning tools to public schools across India. This deal marks our first foray into India and is well-aligned with our strategy to invest in disruptive companies with potential for global expansion."
The startup claims to have partnered with the Uttar Pradesh and Madhya Pradesh state governments to launch the technology in more than 2,200 public schools across the two states.
According to Pankaj, TagHive also plans to expand into at least 5,000 schools in India by 2022.
Last year in July, TagHive had raised an undisclosed amount in its pre-Series A funding round led by Joon Hyon, the Managing Partner at South Korean-based Complement Capital.