The Mumbai-based firm plans to use the fresh money to grow its presence and strengthen infrastructure.
Founded in 2016, SpeEdLabs claims to have over 3,000 business-to-business B2B tutorials clients in K-12 and test prep segment across 200 cities in India. By June 2022, the startup is on track to generate Rs 1.5 crore each month.
With its team of global industry veterans, the India Discovery Fund aids founders with a core backbone support of operations, marketing and finance to support the growth plans of its investee companies.
“We will invest about $2 million in SpeEdLabs, an AI enabled edtech services platform for the Indian tuition market. A part of these funds was released earlier this week. The enablement of personalized and customized feedback and education for the students in a hybrid model is the need of the hour. A one-size fit does not suit students in a conventional set-up and the traction experienced by SpeEdLabs is a testimony to this fact,” said Rajarshi Roy, media spokesperson of India Discovery Fund.
“To help students achieve their full potential, the SpeEdLabs platform employs data-driven hyper customization, dynamic adaptive learning, algo-driven automated content management, and analytical data visualisation. SpeEdLabs will aim to expand their presence to 800 locations throughout 23 states in the country, allowing over 10million students and empowering over 50,000 teachers,” said Vivek Varshney, founder of SpeEdLabs.
“SpeEd Labs has unique personalised learning environment driven by AI/Analytics. Technology algorithms drive the learning engine and have resulted in fast traction in the market. Personalisation using Technology is leading to result enhancement in key focus with 4 key pillars of adaptive practice, analytical feedback, personalised improvement plan and pace adaptability. Founders and top management have solid experience as well as great credentials.”, said Gitanjali Puri, Deal Lead – SpeEdlabs and Venture Partner at ah! Ventures
Read the original announcement: https://ahv.fyi/speedlabspr