Hyderabad-based finance & accounting focused EdTech Startup IndigoLearn has raised $135k in a follow-on round from angel investors.
Bengaluru, 18 Jan, 2019. RedNewswire/-
Vivek Subramanyam, ex-CEO of Fintellix, and Girish Vyasamudri, Vice-President and General Manager (India) of Tangoe are among those participated in this round of funding. The company has so far raised $265,000 (over Rs 1.88 crore) from investors (including the angel round it had announced in April 2018).
IndigoLearn was founded in 2017 by Sriram Somayajula, ex-VP Finance of Furlenco, Sathya Raghu renowned CA faculty, Suraj Lakhotia All India CA topper, Sarat Velumuri a techie from BITS Pilani, along with the visual effects team from Thunder Studios.
The company provides online education for students pursuing CA and related courses in finance & accounting domains.
Sriram Somayajula, a Co-Founder and Chief Executive Officer of IndigoLearn said, “Almost all of the educational technology companies are offering courses in sciences and technology. But there is hardly any in the finance and accounting space.”
“The Company claims to have helped over 20,000 students across the country to prepare for their CA examinations and says that it has seen immense traction from Tier II towns as well. “We have students in over 300 non-metro locations. There is a large amount of inbound interest from students and parents in smaller towns, given their lack of access to high quality content,” Sriram says.
“A significant portion of the current fund-raise will be used to reach a wider audience across the country, followed by product development and technology. We have made substantial investments in content development over last one year; in the coming year, we will be launching modules for several new subjects across various courses which will help us reach a much wider audience,” Suraj Lakhotia said.
“IndigoLearn is attempting to disrupt a market that has not seen one for a long time. They have built an excellent product that clearly differentiates from the rest of the offline / semi offline players in this space,” Girish said.
IndigoLearn has launched over 700 hours of immersive visual content covering subjects primarily for students of CA Foundation and CA Inter till date.
IndigoLearn now aims to scale its student base to 1 lakh students over the next one year on the back of funding and new product launches lined up in the coming months.