[Funding alert] Cognitive skills startup WizKlub raises Rs 7 Cr in Seed round
Bengaluru-based, a holistic cognitive development edtech startup that builds excellence for school children through its HOTS (Higher Order Thinking Skills) and SmartTech programmes, has raised a Seed funding of Rs 7 crore led by Incubate Fund India, with participation from Insitor Impact Asia Fund. This brings the total funds raised by the startup to Rs 9 crore.
WizKlub said it plans to use the fresh capital for product and market expansion.
Amit Bansal, Founder and CEO, WizKlub, said,
“Supplemental education beyond curriculum is the greatest need in the Indian education system today, and we are addressing this area with our research-based learning programmes.”
Amit Bansal, Founder and CEO, WizKlub
Founded in February 2018 by serial entrepreneur Amit Bansal, WizKlub’s HOTS and SmartTech programmes aim to develop cognitive skills in children aged 5-15 years through an AI powered tech platform. The WizKlub HOTS programme develops higher order thinking skills to ensure that every child is a smart reader and a smart problem solver. The WizKlub SmartTech programme, a first-of-its-kind for children as young as six years, builds lifelong skills and confidence to create tech products by the application of coding, robotics, smart devices, and AI.
The startup has over 150 centers in Bengaluru, and has progressed over 3,000 children through its programmes. The company also offers HOTS and SmartTech programmes on a subscription model, and is on track to on-board 10,000+ children over the next few months.
Commenting on the investment, Nao Murakami, General Partner, Incubate Fund India, an early-stage VC fund of Japan, said,
"After-school-education for the K6 segment in India has been highly fragmented. At the same time, the rise of the middle class allows parents in urban India to start thinking seriously about giving a quality after-school education to their kids. So, platforms like WizKlub, which provide standardised quality and easy access to after-school education, has been waiting for a long time among parents of K6 students."
According to WizKlub, global movement of education, high stake exams, and rewarding careers towards aptitude-based skills has sparked the need for such supplementary education for Indian students who otherwise, grow up in an environment dominated by “rote learning”. India alone has a potential market size of $15 billion for supplementary education, it added.
Abhijit Nath, Insitor Impact Asia Fund, a VC fund headquartered in Singapore, added,
"Insitor is excited to partner with WizKlub on its journey to transform education from rote-based learning to building cognitive and critical thinking skills. The team is focused on creating a holistic approach to education through an affordable, structured and outcome-based learning solution."
(Edited by Megha Reddy)