ODA Class raises $500,000 from Singapore, China-based investors

Edtech firm ODA Class has raised $500K (about Rs 4 crore) in a fresh funding round from Singapore and China-based investors.

Skywalker Education Technology Co Ltd (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited, and Matrix Partners China invested in ODA Class during the Series B funding round.

"ODA Class has announced the completion of its Series B funding round by securing $5,00,000. The company is supported by investors who believe in its mission, including Skywalker Education Technology Co Ltd (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China," ODA Class said in a statement.

With this fresh funding round, the edtech firm has raised $12.75 million (about Rs 106 crore) from investors.

The company raised $9 million in 2021, $3 million in 2022 and $2,50,000 in 2023.

"With the latest funding, we are well-positioned to enhance our technological capabilities. Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country," said Neeraj Kumar, Finance Head, ODA Class.

The company reported a revenue increase to Rs 65.81 crore in FY2023-24, up from Rs 26.9 crore in FY2021-22.

"In parallel, the company remains committed to optimising its expenditures, with costs reported at Rs 79.20 crore in FY2021-22, Rs 107.81 crore in FY2022-23, and Rs 85.20 crore in FY2023-24," the statement said.