Bengaluru-based Teachmint, which enables teachers to conduct online classes on a smartphone, has raised $20 million in a Pre-Series B funding round led by Learn Capital, with participation from CM Ventures, Tech Crunch has reported.
The new funding comes less than two months after Teachmint closed a $16.5 million Series A round. Lightspeed India Partners and Better Capital are among its investors
The company stated it is used by a million teachers from more than 5,000 Indian cities and usage is growing at over 100% each month.
The start-up stated it will use the new funding to expand its product offering and for recruitment. The company also intends to expand beyond India and launch into international markets.
Teachmint’s co-founder and chief executive Mihir Gupta said: “We have created a new category altogether. Any teacher can download the Teachmint app and create their first classroom within minutes. This ease of digitisation of classroom didn’t exist before Teachmint.”
Vinit Sukhija, partner at Learn Capital, said: “In just 12 months Teachmint has blossomed from a nascent idea to the number one ranked education app in India – an unprecedented growth narrative for an Indian ed tech company. This market resonance is a testament to the Teachmint team’s ongoing commitment to authentically incorporating teachers’ perspectives into the company’s ever-expanding suite of market-pioneering digital teaching tools. Having inaugurated its partnership with Teachmint just several months ago, Learn Capital is thrilled to now augment its partnership at this critical juncture in the company’s trajectory as it plans for exciting new product launches and international expansion.”
Date published: 8 July 2021