India's largest online platform in preschool to K 12 space bridging parents' need for information and expert advice on education choices, edustoke announced that it has raised INR 3 Crore in its seed funding from Indus Initiatives.
According to a press statement, the company plans to utilize the fresh funds to scale to new cities across the country, in technology to bolster its platform, strengthen its team, and to build the brand.
Co-founded by Pawas Tyagi and Rohit Malik in 2017, edustoke is formed with the sole objective of alleviating the issues of access, quality, and affordability of K-12 education and after-school activities and engagements, for parents. Currently, the platform is the pioneer in the structured search for schools and takes pride in helping parents find the best fit for their child. edustoke’s user base has doubled, and institutional client base tripled during the last 6 months.
What edustoke has done differently is to not only facilitate parents with the end-to-end information about schooling options including the school fee, edustoke handholds the parent through the entire process of decision making also enabling financing options if required.
Commenting on the fundraise, Co-founder of edustoke, Pawas Tyagi, said, "We are very pleased to welcome Indus Initiatives as our partner in realizing the vision that we had set out for edustoke. We are entering a very exciting, high acceleration phase in our journey and I am confident that this partnership will grow many folds in the coming months. We aim at expanding to 45 new cities within the country and internationally and anticipate a 3X growth this year."
In the last four years, edustoke claims that it has helped over 12 million parents make the most appropriate decision about their child's schooling options. In the process, the company proved its revenue model having generated revenues of more than 40 million rupees. It has verified information of over 24,000 schools & over 5,000 schools manage their Microsites every day.
Speaking on partnering with edustoke, CEO of Indus Initiatives, Sajeev Mishra, said, "edustoke is on a very strong foundation and poised to grow at a rapid pace. We want to ensure that every parent has the information, advice, and ability to get the best education and development opportunities for their child. edustoke already achieved what most startups aspire to after having received a couple of rounds of funding. They are well on their way to become the biggest k12 education marketplace. Indus is planning a longer, deeper engagement with edustoke."
edustoke is currently servicing 15 cities in the country, intending to expand to 45 new cities by early 2022, both national and international, such as Bhopal, Lucknow, Guwahati along with Dubai, Abu Dhabi, Riyadh, Doha and Bahrain among others. In addition, it is working with banks and fintech companies to extend 0% EMI to parents to afford quality education.
In the near future, the startup is keeping an eye on increasing their services that are being used by a host of education service providers and Ed-tech companies to acquire customers.