[Funding alert] Edtech startup 3rdFlix Visual Effects raises $5M led by Exfinity Ventures
The edtech startup plans to use the funding to increase market penetration from 1.5+ lakh in Class VI-XII segment and launch immersive and experiential content later this year.
3rdFlix Visual Effects Pvt Ltd, a Hyderabad-based edtech company, has raised $5 million in a Pre-Series A round led by Exfinity Ventures with participation from YourNest, IDFC Parampara, and HNIs.
Shailesh Ghorpade, Managing Partner and CIO, Exfinity Venture Partners LLC, said,
“3rdFlix is founded by a stellar founding team that is driven by a mission to democratise effective learning by supplementing teachers with content that is immersive, modular and conceptualised by veteran academicians. In India there is an acute problem of imparting effective knowledge and 3rdFlix attacks this core issue by ensuring that its cutting edge content can make teaching effective and increase student engagement.”
3rdFlix plans to use the capital raised to increase its current market penetration from 1.5+ lakh in the Classs VI-XII segment and launch immersive and experiential content later this year. The statup is also planning to launch in international markets in the next 18 months, particularly the US, Africa, the UAE, and Southeast Asia.
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Founded in 2014 by Subbarao Siddabattula, Ilangovel Thulasimani, and Charu Noheria, 3rdFlix uses VFX and technologies such as ML/AI, AR, VR, and MR to create life-like intelligent shared experiences for enhanced learning. The company offers two key products - an AI-enabled learning platform under the brand name Corsalite and yet-to-be-launched immersive content product under the brand name 3rdFlix.
“With amazing advancements in spatial computing combined with artificial intelligence, we are looking at a new era of intelligent, interactive and immersive content that will change the way we learn,” said Subbarao Siddabattula, Founder & CEO of 3rdFlix.
Currently, the US is the leading market in immersive Media spending with about one-third of total global spend, according to a Nasscom report. By 2022, the market is expected to reach $179 billion growing at 76 percent CAGR, and other markets, such as China, the UK, Japan, and Southeast Asia are expected to emerge as key markets.
(Edited by Evelyn Ratnakumar)