Spardha, a digital training platform in online music and performing arts has raised INR 8 Crore in its pre-Series A2 round led by Inflection Point Ventures.
The round also witnessed participation from Mumbai Angels & We Founder Circle.
The startup plans to use its funding for hiring across sales and operation along with product upgrades. Spardha will also be spending the capital on brand building & marketing to further expand its presence in the global market.
Founded by Saurabh Srivastav, Amrita Srivastav and Rikhil Jain in 2016, Spardha is a futuristic digital platform for online music education that leverages curated curriculum, certified Trainers and cutting-edge technology to offer personalized trainer-assisted online lessons to learners. The platform uses a proprietary system to hire, up skill and manage teachers professionally. This system also enables personalized musical journeys for different student personas in a seamless classroom experience virtually. The company's vision is to become the most trusted online platform for learning music.
Spardha is on a mission to contribute in the holistic development of the students & trainers. The company is rapidly expanding to the US, UK, Australia, Canada & UAE. They have also increased their revenue by 10x in the last 14 months.
Commenting on the funding, Founder and CEO of Spardha, Saurabh Srivastav, said:
"In my last 12-month journey with IPV, we received seamless support across various critical functions like Branding, Marketing, Product Development and Execution from IPV. IPV has successfully developed an ecosystem where an early-stage startup like Spardha can not only get funded but can also get all required support to achieve its goals."
Spardha claims to offer a high-quality “local yet nationally integrated platform” where anyone can conveniently participate and learn new skills or groom their talent or skill in diverse areas and showcase them to the outside world.
Ankur Mittal, Co-founder, Inflection Point Ventures, added:
"Music has always been a therapeutic tool with multiple health and mental benefits such as enabling creativity, productivity, enhancing concentration, relieving stress and much more. Spardha with its digital training platform has been successful in catering to the need of music loving audiences across age groups starting as early as 5 for beginners to advanced levels of any age. Their futuristic system enables personalized musical journeys for students and trainers in a seamless classroom experience virtually thus effectively bridging the gap of availability, safety and convenience."
The company has registered around more than 400 freelancer teachers in India to support its global delivery model. The industry has a huge untapped potential where the TAM (Total Addressable Market) is estimated to rise to USD 75 billion by 2025. The sector is growing globally at 18.68 percent CAGR b/n 2021-2026.
Last year in June, Spardha had raised Rs 3 crore (~$410K) in a Pre-Series A1 funding round led by Inflection Point Ventures, with participation from few US-based high net-worth individuals.