[Funding alert] Online teaching academy enabler Edmingle raises $300K from SucSEED Indovation Fund, Mumbai Angels, others
Edmingle, the online teaching academy enabler, has secured $300,000 from Hyderabad-headquartered SucSEED Indovation Fund, Mumbai Angels and other angels including Gaurav Gulati, Founder of ScaleX Partners, a firm focused on early-stage investments and Jaideep Mehta, CEO, VCCircle as part of its seed round.
Edmingle’s proprietary software platform claims to be designed to “Create, Teach and Grow”, with a boundless ability to enable educators, entrepreneurs, and training businesses to launch branded online teaching academy websites and mobile apps to instantly launch and grow their knowledge businesses.
Edmingle provides a subscription-based software platform to educators where they can build their courses, market them on their website/app and engage their students.
L-R: Prashant Agarwal (CMO), Gaurav Doshi (CEO) and Harshit Sharaff (CTO)
During the pandemic, Edmingle claims to have helped several training businesses completely digitise their classroom training, growing its topline by 400 percent over the last year.
Gaurav Doshi, Founder and CEO of Edmingle said,
“Trainers have to rely heavily on marketplaces to sell their courses, often ending up sharing a large chunk of their earnings as commissions. With Edmingle, these trainers are now confidently running their courses on a platform they can call ‘Their Own’ and transforming their passion into a sustainable knowledge business.”
He further added that “The seed funding we raised from SucSEED Indovation Fund and such established angel investors will help us take our mission to the larger market and also further strengthen our technology and operations.”
Speaking on why they have invested in Edmingle, J A Chowdary, Co-founder and Partner of SucSEED Indovation Fund, said,
“What encouraged us to invest in Edmingle is its well-laid outgrowth and sustainable customer focus business model, and the ability of their platform to help entrepreneurs solve the online realm problems.”
According to Gaurav Gulati, Founder of ScaleX Partners, “The pandemic has resulted in a systematic shift in how educational content is consumed. Educators and entrepreneurs in this segment have no choice but to adapt to this new reality. Edmingle seamlessly empowers such professionals to take their educational business online and increase their earning potential; professionals in the educational segment can use the Edmingle white-label platform to build their own community and grow their own brand.”
As per the startup, the global online education market is slated to reach $325 billion in the next few years. Increased smartphone and internet penetration, content digitisation, demand for virtual learning environments, and professional content providers for sophisticated course materials for upskilling/employability education and vocational training will be the key driving force behind online learning, it said.