[Funding alert] Edtech startup SOAL raises $1M from Munjal Auto promoters' investment arm
School of Accelerated Learning (SOAL), a skill-tank nurturing students into disruptive, tech-empowered creators and future leaders, has raised Series A-1 funding round of about $1 million from SARA Investments, the investment arm of the promoters of Munjal Auto Industries Ltd.
The Mumbai-based startup will utilise the funds for skilling 3,000+ learners from the country, and advance its digital footprint within India and other developing nations.
Speaking on the investment round, SARA Investments' Anuj Munjal said,
“India has substantial potential to capitalise, owing to its massive population. Unfortunately, the discrepancies in the country’s formal education system keep it from fully tapping into this talent prospect. The country is still considerably lagging behind the global standards of contemporary education and innovation. Since digital is the only way forward, the youth needs to hone their skills in this direction.”
"The founding team at SOAL has made a brilliant headway in transforming the country’s youth into aspiring creators of digital products, and I wholeheartedly share their splendid passion," Anuj added.
Incepted in 2017, the edtech startup claims to have grown to prominence with an 8x rise in its students. In the last six months, it has launched a new course in product design, and a new campus in Mumbai. Nearly 400-plus individuals have been nurtured by the school so far, getting placed at global product companies like Dunzo, ClearTax, ShopClues, FactSet, and more.
The Mumbai-based startup, founded by trio Pratik Agarwal, Raj Desai, and Varsha Bhambhani-Kanwal, will utilise the freshly raised funds towards augmenting its proprietary technology platform named DELTA, an AI-enabled personalised learning assistant. It is also gearing up to offer programmes in product management, artificial intelligence, android development, blockchain, and more.
Raj Desai, CEO and Co-founder at SOAL, added,
“We, at SOAL, are constantly on a lookout for learners with a potential for tech disruption and launching them as India’s top product developers, designers, and managers. With the freshly raised funds, we will invest in their success and provide them with equal learning opportunities to meet the demands of the industry as it gets competitive. The next frontier for us will be emerging economies.”
Edited by Suman Singh