[Funding alert] Hyderabad startup Practically raises $4M in Pre-Series B round led by Siana Capital
, a Hyderabad-based interactive and immersive learning app, on Tuesday said it has raised $4 million in a Pre-Series B round led by Bengaluru-based deep tech investor Siana Capital.
Existing investors YourNest Venture Capital and Exfinity Ventures also participated in the investment round. The edtech startup had previously raised $5 million in a Series A round.
Speaking on the investment, Charu Noheria, Co-founder and COO, Practically, said, “The recent funding round will be utilised strategically to expand the market for Practically beyond Telangana and Andhra Pradesh. Our expansion plan includes establishing a footprint pan-India in the next 12 months. We are also aiming to expand operations in the Middle East and set foot into the US market in the near future.”
Founded in 2018 by Subbarao Siddabattula, Charu Noheria, and Ilangovel Thulasimani, Practically uses Augmented Reality (AR), simulations, and 3D videos for an enhanced learning experience, and caters to students in classes between six and twelve, with a focus on STEM learning.
Subbarao Siddabattula, Founder and CEO, Practically, said, “This Pre Series B funding showcases the extreme faith our investors have reposed on Practically. The tremendous response that we are seeing for Practically from schools, administration, faculty, parents, and students validate our model. Our progress so far is in-line with our strategic growth plans, and we are very well placed to tap the accelerated growth that the edtech industry is witnessing today.”
So far, around three lakh students have already benefited from the engaging content on the platform. Its B2B2C offering — the Practically School Solution — gives schools and its teachers access to the Practically teacher app for free of cost.
Here, teachers can access 3000+ videos and 1000+ simulations/AR, and features like virtual classes, test -prep, assessments, analytics, and assigning homework, etc.
In fact, amidst the COVID-19 pandemic, about 130 schools across India are already using Practically and its solutions to enable online classes.
The co-founders said that the startup is an outcome of deep-rooted insights based on several man-years of study around children’s learning and retention modes, leading to the innovative use of new-age tech tools such as AR to provide an immersive learning experience for children.