[Funding alert] Edtech platform Bambinos.live raises $500K in seed round from HNIs and Angels
Digital academy for extracurricular activities Bambinos.live on Thursday announced that it has raised $500,000 in its seed round from HNIs and angels, including Ankit Nagori, Co-founder of Cure.Fit and CEO of Eat.Fit; Neeraj Aggarwal, Co-founder and COO Xto10x; Abhishek Nag (Angel List), Director of Business Development, Netflix India, and family fund of MEL.
Founded in June 2020 by Ashish Gupta along with Ankit Hetamsaria, Bambinos.live claims to offer 40+ live interactive online courses to over 15,000+ kids across visual arts, personality development, dance, music, and communications for children in the 4-12 years age group.
According to the official statement, the startup will use the fresh funds for product development, scaling up its distribution network, and enhancing the course content across categories of extracurricular activities.
Speaking about the new development, Ashish Gupta, Co-founder and CEO, Bambinos.live, said, “In the last ten months, we've observed a surge in parent’s demand for extracurricular activities for their children. There are currently 15,000+ kids who have registered on our platform, including from India, Singapore, Japan, Korea, Canada, and the Middle East."
Bambinos.live Co-founders (L:R) Ashish Gupta(CEO), Ankit Hetamsaria(COO)
"The new funding will enable us to grow our company and add new products and revenue streams. We have built a strong network of educators and content designers, which help us differentiate through our in-class experience," he adeede.
Further, we have built a strong operational control with a high-efficiency model. This keeps our cost low and provides high consistency in customer experience. Our idea is to help a child discover multiple interests outside the school while helping her builds some critical life skills. All our programmes are selected and designed to enhance the learning experience compared to offline," he added.
The Bengaluru-based startup recently announced the 'Fight Against Covid' campaign initiative to provide all its live extracurricular classes freely accessible to the children of frontline workers across India. The campaign is a month-long initiative starting June to keep the children of frontline workers indulged in fun learning activities and help them cope with the mental ramifications of the on-going Covid-19 pandemic.
With the help of this fresh funding, the startup is targeting to hit revenue of $2 million ARR in the next six months, claims the startup.
Commenting on the investment, Neeraj Aggarwal, Co-founder and COO, Xto10x, stated, “I’m very excited to back the Bambinos.live team for building an ecosystem in extracurricular learning. Beyond curriculum learning is a very large space and is the need of the hour when academic excellence may no longer be enough for a child to succeed. Ashish and Ankit are very experienced operators and are putting the right building blocks to scale this category in edtech.”