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Jaipur-based ed-tech start-up SRJNA has raised funds from the US-based investor Gray Matters Capital under its edLABS initiative.
While the exact quantum of funding was not disclosed, edLABS, Gray Matters Capital’s early stage education and skilling sector-focussed portfolio, will pump in $8 million over the next three years to aid entrepreneurs in the ed-tech segment build solutions that address education gaps and provide updated skillsets.
The company has also received funding from Keiretsu Forum — a global investment community of accredited private equity angel investors, venture capitalists and institutional investors and SucSEED Venture Partners in this round, the company said in a statement.
The funding of SRJNA marks the first of the four investments to be made by Gray Matters Capital through edLABS in September, after closing a seed round funding of $150,000 in Kidovators in July 2018.
Sharad Bansal, Co-Founder and CEO, SRJNA said that with this round of funding, the start-up will augment research efforts, invest in technology and build a channel partner network that can offer solutions to around 1.5 million schools in India.
SRJNA sells its STEM —Science Technology Engineering and Math— kits directly to schools and has facilitated in setting up labs in 100 schools and has touched 50,000 students and 1,000 teachers across 26 cities in 15 states.
Ragini Bajaj Chaudhary, India CEO, Gray Matters Capital, said that start-ups like SRJNA have understood the importance of scientific temper and cultivating the spirit of curiosity, creativity and imagination among young minds – which sow the seeds for future innovations. “ We would like more girls to get interested in STEM to bridge the gender gap,” she added.
Their founding team, tool kits and success with their initial customer base was instrumental in our decision to participate in this round to enable their next stage of growth, said Vikrant Varshney, Managing Partner of SucSEED Venture Partners.
SRJNA has also been selected by the Government of Rajasthan under its iStart initiative and is among the seven start-ups in the State to be funded through its Bhamashah Techno Fund in June this year.
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