[Funding alert] LEAD School raises $28M in Series C round led by Westbridge Capital
Mumbai-based edtech startuphas raised $28 million in a Series C funding round led by along with existing investor .
The latest round of funding will be used by the company to accelerate the development and rollout of new product offerings, increase its school network in Tier II and III cities, and hire talent across domains.
Founded in 2012 by Sumeet Mehta and Smita Deorah, LEAD School combines technology, curriculum, and pedagogy into an integrated system of teaching and learning to create affordable private schools. It has partnered with 800-plus schools with an estimated three lakh-plus students in more than 300 cities in 15 states.
LEAD School Co-founder and CEO Sumeet Mehta said, “We aim to democratise excellent learning by transforming schools in Tier II, III, and IV cities where the majority of India lives. Our firm belief is that every child, irrespective of economic background or location of birth, should have access to an excellent education.”
According to Sumeet, the startup has seen rapid adoption by schools and improvement in class averages (from below 60 per cent to above 70 per cent) in the last three years. “The new round of funding will help us bring more innovation and reach more students and schools.”
Sandeep Singhal, Managing Director, WestBridge Capital, said, “In the last few months, the edtech sector has evolved rapidly, changing the trajectory of the Indian education system multifold. We see great potential in LEAD School, given their innovative and focused approach in ensuring accessible, quality school-level education for all.”
According to the startup, its LEAD School Integrated System (IS) can offer a complete schooling experience to students, irrespective of whether schools are physically open or shut.
“We have seen LEAD go from strength to strength, growing to over 800 affordable private schools from fewer than 10 when Elevar first invested. What really differentiates LEAD is their strong solution orientation,” said, Sandeep Farias, Founder and Managing Director, Elevar Equity.
(Edited by Teja Lele Desai)