Early education company Flinto has raised $7 million in Series A funding led by Lightbox, with participation from existing investors. A press release from the company has said that it has turned profitable and aims to reach Rs 40 crore in revenues this year.
“The fresh inflow of capital will help the Chennai-based startup solidify its position as the market leader in early education, and realise its mission of being the Fun Learning Partner of every child in India,” it added.
Launched in September 2013 by Arunprasad Durairaj, Vijay Babu Gandhi, and Shreenidhi Srirangam, who personally experienced the lack of quality early education in India, Flinto aims to change the way children learn and play by focusing on holistic development at their two primary spaces of learning — home and preschool. In fact, they have two programmes for the same:
Flintobox claims to have more than four lakh customers in over 700 cities.
Arunprasad, CEO and Co-founder of Flintobox, has said that they are expanding into the largely unorganised and fragmented preschool market to provide the best early learning programme for children. They have standardised early learning for children to be able to access the same quality of education regardless of the state of educational institutions.
“Since the preschool penetration rate in India is less than 10 percent, compared to over 90 percent in developed countries, there is tremendous room for growth. We will use the funds to further strengthen our leadership position in this space and expand across the country,” Arunprasad has stated.
FlintoClass, termed ‘preschool in a box’, was launched in June 2017. It has already reached more than 4,500 children in 350 preschools across more than 25 cities. In a year, they aim to reach 1,000 preschools. “In the next five years, every child will grow in a Flinto environment. We’re also aspiring towards global expansion, starting with South and Middle-East Asia,” Arunprasad added.