Edtech startup Tech Shiksha has raised Rs 1.3 crore from 24 investors of the Mumbai Angels Network. It will use the funds to expand its business and reach out to more students, the startup said in a statement.
Tech Shiksha, through its product - Witblox, provides gamified robotics-based teaching for children in the age group between eight and 16 through plug-and-play hardware toolkits in the STEM fields (science, technology, engineering, and mathematics).
Founded by Amit Modi, an IIT-Bombay alumnus in 2014, the Mumbai-based startup was incubated by the Neotec Hub by Ambuja Neotia. Further, it was also selected among the 'Top 10 Ed-Tech Startups in India' by Edupreneur Village, an education venture fund.
"When we approached Neotec, we were at a very early revenue stage with WitBlox Kit's prototype ready, and we had done some pilots in a few schools and labs. With the help of Neotec mentors, we built WitBlox to be a successful commercial product and started selling online. Today, WitBlox is the bestseller on Amazon and is ranked No. 1 robotics kit in India. It is ranked No. 10 in the toy's category by Amazon since December 2018,” Amit Modi, Founder, Tech Shiksha said.
Neotec Hub is a business incubation centre located in Kolkata which offers mentorship to startups in all areas, and access to Ambuja Neotia Group businesses, go-to-market strategy, investor connects, legal, accounting support for compliance, and corporate governance in the entrepreneurship journey till Series A.
“Neotec Hub has been a corporate co-founder to me. The team at Neotec Hub mentored me to grow my business, to scale-up (through business connects, seed fund, etc.), and helped me with the funding round,” Amit added.
In December 2018, Mumbai Angels Network had invested Rs 5 crore in a Bengaluru-based spacetech startup, Dhruva Space.
(Edited by Suman Singh)
[Funding alert] Bengaluru-based spacetech startup raises Rs 5 Cr from Mumbai Angels Network, other external angel investors