Info-tech

Edtech start-up Teachmint raises $78 million in Series B investments

Our Bureau Bengaluru | Updated on October 25, 2021

Edtech start-up to use new funds for expansion

Edtech start-up Teachmint has raised $78 million Series B funding from Rocketship.vc and Vulcan Capital.

New investors such as Goodwater Capital and Epiq Capital also participated in this funding round along with the company's existing investors including Learn Capital, CM Ventures, Lightspeed India and Better Capital.

With this new funding round, Teachmint has raised $118 million since inception in May 2020. Teachmint will use these new funds to strengthen its proprietary classroom technology along with expanding into international markets.

The company claims to have grown to over 10 million users in India and aims to have over 100 million users globally in the near term. To achieve this, Teachmint will focus on growing its teams and hiring skilled talent, especially across product, technology and design.

The company plans on doubling its workforce in the next six months and will also soon announce its ESOP buyback plan to reward and recognise the contributions of its team.

In addition to the continued growth of its mobile-first teaching platform, Teachmint has also expanded its offerings with products like Teachmint for Institute and Education Video-as-a-Service.

Strategic buys

Teachmint is also eyeing a few strategic acquisitions in the near term to strengthen its infrastructure offering. The company is actively looking for partnerships with players innovating in technology infrastructure across the education ecosystem and taking their products to larger scale through Teachmint’s platform.

Mihir Gupta, Co-founder and CEO at Teachmint, said, “Since inception, we have been focused on addressing the big technology-infrastructure gap that exists in education. Over the past 16 months, we have been humbled by the experience of powering the teaching and learning infrastructure for millions of teachers and students across India. From supporting individual teachers to powering K-12 schools, coaching institutes, colleges, universities and even edtechs, we are disrupting technology penetration in education at an unprecedented pace.”

Madhu Shalini Iyer, Partner, Rocketship.vc, said, “Teachmint has addressed a latent technology problem in the education sector and is well-positioned to scale their offering globally. Strong leadership combined with the passion and conviction to solve this, makes us a strong believer.”

Founded in May 2020 by Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar,

Teachmint’s classroom infrastructure enables teachers to deliver live online classes, ensure continuous student engagement and automate their admin workflows. The platform is available in 11 different regional languages including Hindi, Telugu, Tamil and Punjabi. Within a year of its launch, Teachmint claims to have onboarded more than 10 million teachers and students from over 5,000 cities on its platform.

Published on October 25, 2021

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