SpeEdLabs, an education technology platform that uses a combination of Artificial Intelligence and Adaptive Learning to ensure personalized learning for each student, has recently announced that it has raised INR 14.31 Crore in its pre-Series A funding from Mumbai Angels, LetsVenture, Ecosystem Ventures and SucSEED Ventures.
The Mumbai-based startup will direct the freshly infused capital towards expanding its presence and bolstering its infrastructure.
Founded in 2015 by an IIT/IIM alumni, Vivek Varshney, SpeEdLabs offers personalized analytics insights into what the student must focus on and their individual areas of weakness, and also allows them to strengthen their core concepts by offering learning and doubt clearing sessions and mentoring. Through the SpeEdLabs App, students are provided immediate one-on-one assistance, making concept learning more individualized and inclusive. It will clear students' doubts; answer all the questions right on the spot, faster than ever, regardless of whether exams are a month or a day away.
SpeEdLabs's mission is to provide a personalized learning experience through the power of practice and technology.
Talking about the platform, Founder of SpeEdLabs, Vivek Varshney, said:
"SpeEdLabs platform uses data-driven hyper personalization, dynamic adaptive learning, algo-driven automated content management and analytical data visualization to help students achieve their potential as we bring the best of both worlds. Currently present in 200+ cities, enabling 100,000+ students and empowering over 5000 teachers, SpeEdLabs will soon be expanding their presence to 800 cities across 23 states in the country."
Students from various age groups and streams find this a suitable offering that matches their learning requirements on the SpeEdLabs platform. Students from all boards- ICSE, CBSE, IGCE, IBDP, AS-A, CIE, HSC and SSC, starting from grade 6 to 12 find an engaging learning experience on the platform. It provides learning experience not only to the school students but also to those appearing for competitive examinations such as JEE (main and advanced), NEET, NTSE, BITSAT, and MHCET.
By helping to deliver lectures via LIVE optionalities to enable practice and finally testing, the app helps navigate the entire learning journey of any student. It is designed for teachers to manage multiple batches seamlessly, create tests for students at the click of a button and focus on refining and personalising their own teaching styles.
Co-founder and CEO of Mumbai Angels, Nandini Mansinghka, added:
"The advent of AI enabled Platform-as-a-Services solutions have been revolutionizing the hitherto unorganized after school tuition market. There is a tremendous demand for the non-generic mode of learning given the one size fits all education system prevalent in India today. We are confident that the unique tech driven learning solutions will continue to enrich students' learnings and fuel future demand for personalized coaching."
Having scaled 10x in 18 months in product revenues and a funnel of 3000+ clients, SpeEdLabs is well on its way to crossing Rs 1.5 crore per month by June 2022, according to a press statement.