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Educational technology startup IndigoLearn.com has raised $1,35,000 in the angel round, taking the total funds raised so far to $2,65,000.
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. Finding a need in the tech-based education delivery in the accounting and finance vertical, the startup developed about 700 hours of animated, gamified and video content to make it easy for students appearing for CA course.
“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,” Sriram Somayajula, a Co-Founder and Chief Executive Officer of IndigoLearn, told Business Line.
The firm, which went for a maiden round in April 2018, has 20 employees, 13 faculty who help it in content development and 20,000 registered users. The average fee it collects for getting access to the content is Rs 3,000-4,000. “Three of the four founders are CAs. The fourth one is a BITS grad helping us in technology strategy,” he said.
“The opportunity is quite huge in the country with an estimated 10 lakh students appearing for CA. If you add other students that are pursuing commerce and finance degrees, the number would breach the 50-lakh mark. But for now we are targeting CA students,” he said. It is offering content for students of CA Foundation and CA Inter. It is planning to launch modules for CA Final, global professional courses and classes XI and XII.
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