[Funding alert] Edtech startup PurpleTutor raises about $300K in seed round from IvyCap Ventures and others
Mumbai-based edtech startup PurpleTutor has raised a seed funding round of about $300,000 led by IvyCap Ventures. The round saw participation from other investors, including Krishna Kumar (Founder and CEO – Simplilearn).
With this infusion of capital, the startup plans to strengthen its technology, consumer base, and increase footprint.
“We really wanted to build an outstanding product from the start and ensured our product, curriculum, and teacher quality were up there. Our Net-Promotor-Score of 74 is a testament to that fact. We’re focused on building technology to ensure that our teaching quality is superior and offer a great experience for students. Our recent fundraising will go towards expansion and building technology,” said Gaurav Perti, Founder and CEO, PurpleTutor.
Founded in 2019 by IIT Bombay graduates Gaurav Perti and Yatish Gupta, PurpleTutor offers live, online classes to kids aged 6-16 yrs on computational thinking. The company has its own curriculum and is building technology to arm its teachers to ensure classes are highly personalised and customised.
According to the startup, there are in-house teacher training programmes where teachers are trained to let the students lead the curriculum journey as per their creative ideas, ability, and interest. The startup claims it has over 30,000 registered users and is already at an annualised revenue of nearly $0.5 million and is growing 50 percent monthly.
“Keeping in view with India’s vision for Digital India, a child’s inherent curiosity and promptness to adopt new technologies must be tapped in every possible way. Thus, as an investor, it gives me immense pleasure to associate with PurpleTutor that has excellent potential to bring forth cutting-edge courses for making every child future-ready,” said Vikram Gupta, Founder and Managing Partner, IvyCap Ventures.
Founded in 2011, IvyCap Ventures is a homegrown venture capital fund, which manages Rs 1,500 crore across three funds.
Edited by Saheli Sen Gupta