[Funding alert] Edtech startup SpEd@home raises $300K in initial round
Mumbai-based edtech startup SpEd@home on Friday said it has raised $300,000 as part of its initial funding round led by financial experts and advisors, from a venture capital company based in Singapore and other high net worth individuals (HNIs).
SpEd@home is an edtech solution that augments learning for children with differential needs like learning disability, ADHD and autism. It merges technology with a systematic approach to provide a better e-learning experience at home for differently abled children aged 6-13 years, and to equip parents in metros as well as Tier-II and Tier-III with skills to aid their children.
After observing how limited access to remedial centres during the lockdown has hampered the learning outcomes of children with differential needs, Dr Dhaval Mody incepted the company in 2020 during the pandemic.
“We are currently running our pilot with children from the lower socio economic strata i.e. those with a family income of less than 8 lakh annually. The results of our ongoing pilots have been very promising and are helping us take our conviction to the second round,” said Dr Dhaval Mody, Founder and CEO of SpEd@home.
“We are sure our solution will change the way special education is delivered to children with differential needs,” he added.
The startup will use the raised funds to build a basic web-based product to test out the hypothesis that children with differential needs can benefit from a customised online programme. It will further use the capital to complete the pilot phase, develop a mobile app, improve their web solutions, and build product, sales and SME teams.
The company has over 1000 clients across its ecosystem, including overseas clients from countries like Malaysia, Dubai and Kuwait. For this coming year, the company is looking to acquire 5000 clients and build a robust product and team to support the product services.