New Delhi, Feb 15: Delhi-based Eupheus Learning on Monday said it has raised USD 4.1 million (about Rs 29.7 crore) in funding led by United Education Company (UEC) and Al Rayan Holding Company (ARHC).
Proceeds from the latest series B funding will be used for organic expansion in domestic markets, largely in home learning solutions, while international expansion will be a focus area starting with Middle East and foraying into other markets like Sri Lanka and Bangladesh, a statement said.
The company will also be pursuing inorganic growth opportunities in the Edtech segment through acquisitions, it added.
Founded in 2017 by Sarvesh Shrivastava, Ved Prakash Khatri and Amit Kapoor, Eupheus Learning has partnerships with 5,000 schools and reaches 4 million students. It clocked revenues of Rs 72 crore in FY19-20 and has a presence across 80 cities with a team of 175 personnel.
The company targets reaching 10 million kids in India.
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Pencil raises $1mn funding from SOSV, IPV and others * Pencil, a Mumbai-based publishing platform, has raised USD 1 million (about Rs 7.2 crore) in funding led by SOSV, a US-based venture capital firm.
The pre-series A round funding also saw participation from Inflection Point Ventures (IPV) and Artesian as well as existing investors from Mumbai Angels and SucSEED, a statement said.
The funds will be utilised for building the technology and team at Pencil, it added.
Pencil allows writers to publish their books in over 60 languages, including all Indian Languages, distribute the books as eBooks and printed books worldwide for free. It also helps authors understand how their book is being read through in-depth analytics and make dynamic edits.
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Aisle raises funding from Hurun India and Konglo Ventures founders, others * Dating app Aisle has raised funding, led by Hurun India founder and MD Anas Rahman and Vinod Jose, founder of Konglo Ventures.
The pre-series A round, whose financial details were not disclosed, also saw participation from a number of existing investors and other angel investors.
The funds will be deployed by the Bengaluru-based firm to help drive Aisle’s strategy of entering tier-II markets across India, as well as expand its reach in major NRI markets, a statement said.
“We’re proud to have introduced a high-intent dating product exclusively for Indians in 2014. Back then, only Tier-I cities were ready for our product, dating etiquette was far from where it has reached today. But things have changed since the lockdown, Tier-II cities are showing growing acceptance to technology and its use in their daily lives,” Aisle founder and CEO Able Joseph said.
Aisle’s previous round of funding was announced in February 2017, led by investors including CIO Angel Network and Konglo Ventures. The company turned EBITDA positive shortly after and has recorded 85.24 per cent CAGR over the last three financial years. (PTI)
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