On My Own Technology (OMOTEC), a dynamic Innovation and Research Lab that brings STEAM learning to students of all age groups, has raised $130,000 in a Pre-Series A funding round from ah! Ventures.
Founded by Reetu Jain and Shekhar Jain in 2016, OMOTEC offers a wide range of stimulating, educational, STEAM & Robotics programs integrating mechanical, electronics, programming, design & construction, research & innovation including product design & development for young minds ranging from Pre-primary to 12th grade, and to the students from graduate schools and engineering colleges.
OMOTEC’s curriculum is based on the idea of seamlessly integrating Science, Technology, Engineering, Art and Maths (STEAM) into learning based on real-world applications. Its classes are a mix of fun and education designed to spark creativity and prepare children for a technology-driven future. The platform offers quarterly and yearly programs with a wide range of STEAM projects mapped to the curriculum through Open Source Platforms, Lego Robotics, AR - VR Education, Drone Making, Arduino, Rasberry Pi, Programming Languages like Java, Python, IoT, Artificial Intelligence & Machine Learning which enables students to participate in International Competitions like IRIS, Robo Soccer, Making & Gaming, Robo RACE, Formula 1 (F1) Training, The FIRST Tech Challenge (FTC), FIRST LEGO League (FLL), World Robot Olympiad (WRO) and many more.
Shekhar Jain, Co-founder & CEO of OMOTEC, said:
"International curriculum market especially that associated with STEAM education is growing at a CAGR of 40%. The curriculum is getting more real and application-oriented. With the implementation of NEP 2020 (The National Educational Policy), experiential learning is becoming an integrated part of the normal education segment. DIY boxes, reading kits, science experiments are gaining huge traction. Experiential learning space for complete tech-oriented projects for K12 is completely mapped to academics."
OMOTEC has already achieved a total turnover of more than $1.10 million over its 5-year growth journey. The company is poised towards a turnover of $0.5 million in the coming fiscal year. It also plans to achieve the break-even stage in the next couple of years. With schools accepting experiential learning and STEAM education, OMOTEC is seeing a lot more adoption from their end.
Sunny Garg, Venture Partner with ah! Ventures, also commented saying,
"A well designed STEAM (Science, Technology, Engineering, Art, and Mathematics) curriculum along with the growth of application-based learning and innovation among the schools, students, colleges, and teachers is rapidly gaining pace and is poised to grow with the demand in such skill-based jobs."
OMOTEC has been recognised with 2 patents and a couple of published Research Papers. With 6 Innovation Labs, the company claims to train over 5000 students on a monthly basis.
Meanwhile, with this investment, ah! Ventures has done a total of 113 investments (in 86 startups) to date taking its total investment portfolio to $34 million, with 13 exits and 23 follow on rounds.