One-to-one online learning platform Interval, a start-up under the Kerala Startup Mission (KSUM), has garnered ₹2.25 crore in a pre-seed fundraising round headed by prominent angel investors from UAE, demonstrating the growing international interest in the Indian edtech space.
The funding will enable Interval, which encompasses over 1,000 academic and non-academic courses, to accelerate its growth trajectory, besides expanding reach and enhancing product offerings.
A learning platform for children in the K-12 sector (from kindergarten to plus-two), Interval founded in 2021 by five youngsters- Ramees Ali, Sanafir O K, Najim Illyas, Shibily Ameen, and Aslah Thadathil, offers personalised classes to children in the K-12 sector.
On raising the capital, Ramees Ali , CEO said, “We are excited to have secured this pre-seed funding, which will fuel our aim to provide personalised and high-quality education to students across the K-12 segment. With the support of our investors, we are confident in our ability to transform the learning experience for children and empower them to realise their full potential.”
Within a short time, the company has expanded its customer base to over 30 countries, fostering a robust community of customers in India and GCC countries. Notably, the K-12 EdTech start-up has succeeded in achieving a revenue of ₹8.02 crore in the last fiscal.
The pre-series funding will be primarily utilised to strengthen technology infrastructure, on-board more skilled teachers, and develop new educational content to enrich the learning experience for students further, Ramees said.
The pre-seed funding round saw participation from a select group of UAE-based angel investors known for their strategic investments in promising startups. Also, this success serves as a testament to the strong market potential and investor confidence in the country’s Edtech sector. As the company continues to scale and expand its operations, it expects to play a key role in shaping the future of education in India, he added.
Published on June 27, 2023
