EdTech Startup Oda Class Secures $500,000 in Funding from International Investors
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On Thu, 29 Aug, 4:02 PM UTC
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Edtech startup ODA Class secures $500,000 funding
The funds will be strategically allocated to several key areas to maximise impact, like digital marketing, which will enhance the company's brand visibility and reach a broader audience, Bengaluru-based ODA Class said in a statement.Edtech startup ODA Class on Thursday said it has secured $500,000 in a series B funding round. The funds will be strategically allocated to several key areas to maximise impact, like digital marketing, which will enhance the company's brand visibility and reach a broader audience, Bengaluru-based ODA Class said in a statement. The latest funding round takes the total capital raised by ODA Class to $12,750,000. It had raised $9,000,000 in 2021, $3,000,000 in 2022 and $250,000 in 2023. "The latest round of funding showcases that we are headed in the right direction with our plans to transform the edtech sector," said Neeraj Kumar, finance head of ODA Class. "We are now well-positioned to enhance our technological capabilities and expand our product offerings. 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." ODA Class is supported by investors including Skywalker Education Technology (Singapore), Daituzi Education Technology and Matrix Partners China. The company will introduce AI-driven features within its mobile application to personalise and improve the learning experience, it said. The startup reported a revenue of Rs 65.81 crore in FY24, up from Rs 63.76 crore in FY23 and Rs 26.90 crore in FY22. Founded in 2019, the company offers live online courses for students from grade 1 to 10. With educators from the IITs and NITs, it has served more than 25,000 long-term students. It aims to enroll 100,000 students in 2024 while continuing to enhance its learning platform.
[2]
Edtech startup ODA Class secures $500,000 funding
Edtech startup ODA Class on Thursday said it has secured $500,000 in a series B funding round. The funds will be strategically allocated to several key areas to maximise impact, like digital marketing, which will enhance the company's brand visibility and reach a broader audience, Bengaluru-based ODA Class said in a statement. The latest funding round takes the total capital raised by ODA Class to $12,750,000. It had raised $9,000,000 in 2021, $3,000,000 in 2022 and $250,000 in 2023. "The latest round of funding showcases that we are headed in the right direction with our plans to transform the edtech sector," said Neeraj Kumar, finance head of ODA Class. "We are now well-positioned to enhance our technological capabilities and expand our product offerings. 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." ODA Class is supported by investors including Skywalker Education Technology (Singapore), Daituzi Education Technology and Matrix Partners China. The company will introduce AI-driven features within its mobile application to personalise and improve the learning experience, it said. The startup reported a revenue of Rs 65.81 crore in FY24, up from Rs 63.76 crore in FY23 and Rs 26.90 crore in FY22. Founded in 2019, the company offers live online courses for students from grade 1 to 10. With educators from the IITs and NITs, it has served more than 25,000 long-term students. It aims to enroll 100,000 students in 2024 while continuing to enhance its learning platform.
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Edtech firm ODA Class raises $500K from Singapore, China-based investors
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 an additional $ 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," ODA Class, Finance Head, Neeraj Kumar said.
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Oda Class, an Indian EdTech startup, has raised $500,000 in a funding round led by investors from Singapore and China. The company plans to use the funds to expand its operations and enhance its AI-powered learning platform.
Funding Details and Investors
Oda Class, an emerging player in the Indian EdTech sector, has successfully secured $500,000 in a recent funding round 1. The investment was led by notable figures from Singapore and China, including Huang Shao Ning, co-founder of JobsCentral Group, and Lim Qing Ru, co-founder of Zopim 3. This international backing demonstrates the global interest in India's growing EdTech landscape.
Company Background and Offerings
Founded in 2020 by Shushant Srivastava and Gauri Gandotra, Oda Class has positioned itself as an innovative force in the education technology space 2. The startup specializes in providing personalized learning experiences for students preparing for IIT-JEE and NEET examinations, two of India's most competitive entrance tests for engineering and medical colleges respectively.
AI-Powered Learning Platform
At the heart of Oda Class's offering is its AI-powered learning platform. This technology aims to revolutionize the way students prepare for these crucial examinations by providing tailored study plans and adaptive learning experiences 1. The platform's ability to adjust to individual student needs sets it apart in the competitive EdTech market.
Expansion Plans and Fund Utilization
With the fresh influx of capital, Oda Class has ambitious plans for growth. The company intends to use the funds to expand its operations, further develop its AI technology, and enhance its overall product offerings 3. This expansion is expected to include scaling up their team and investing in marketing efforts to reach a wider student base across India.
Market Potential and Competition
The Indian EdTech sector has seen significant growth in recent years, with the market size projected to reach $10.4 billion by 2025 2. Oda Class enters a competitive landscape dominated by established players like BYJU'S and Unacademy. However, the startup's focus on AI-driven personalization for specific competitive exams could carve out a unique niche in this burgeoning market.
Investor Confidence and Future Prospects
The involvement of experienced entrepreneurs and investors from Singapore and China not only brings capital but also valuable expertise to Oda Class. Huang Shao Ning, with her background in the job market platform JobsCentral, and Lim Qing Ru, co-founder of the customer service software Zopim (acquired by Zendesk), bring a wealth of knowledge in scaling tech startups 3. Their backing signals strong confidence in Oda Class's potential to disrupt the EdTech space with its innovative approach to exam preparation.
Reference
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