[Funding alert] Edtech startup Toppr raises Rs 350 Cr in Series D led by Foundation Holdings
Edtech startup Toppr has raised Rs 350 crore in Series D funding led by Foundation Holdings, with participation from existing investors, including Kaizen Private Equity.
Founder and CEO Zishaan Hayath said, "Toppr has been at the forefront of delivering adaptive learning to our students — and now also to the teachers — to ultimately enable a positive future for schools. We are committed to our mission to make learning personalised.”
Toppr will use this latest investment to further help to develop the artificial intelligence (AI) based Toppr School Operating System (OS), a platform for schools to run digitally unifying in-school and after-school learning to create a standardised and personalised experience.
Aakash Sachdev, Managing Director of Foundation Holdings, said, "Toppr’s market leading, proprietary machine learning technology is uniquely positioned to provide an integrated, curated, personalised pedagogy platform, mapped to 22 curriculums, designed to take schools to the future.”
Toppr, which provides AI-based after school learning app for K12 to prepare them for various competitive examinations, will use this fresh round of funding to further enhance its technology platform and launch new initiatives for coding and schools.
The startup, which was founded in 2013, has cumulatively raised Rs 700 crore to date. Toppr's other investors include Saif Partners, Helion Ventures, and Eight Roads Ventures.
The edtech segment has witnessed strong traction from investors during the COVID-19 pandemic. Startups such as BYJU'S, Vedantu, Classplus, etc., are among the several Indian companies to have received strong backing from existing and new investors.
Toppr claims to be hosting over one million sessions every day with more than 50,000 educators. The startup’s new school OS has around 55,000 learners.
The startup uses natural language processing (NLP) to solve learner doubts. It also uses AI/ML and big data to study student behaviours and create adaptive learning paths.
According to the latest research by management consulting firm Ken Research, India’s online education market is growing at 20 percent annually and is expected to reach a size of $2 billion by 2021.
Edited by Saheli Sen Gupta