Bengaluru-based classroom teaching app provider Teachmint is talking to new and existing investors to raise a new funding round that will push the company’s valuation to $500 million, Entrackr has reported, citing unnamed sources.
One of the sources said: “Teachmint is raising over $70 million in a new round at over $500 million valuation from new and existing backers including Learn Capital and Lightspeed.”
A second source added: “New investors are likely to put in $30 to 40 million followed by existing investors. The round could go up to $90 million as inbound interest from investors in the company is very high.”
If it comes to fruition this will be Teachmint’s third funding round this year. In June, the company raised a pre-Series B round at an estimated valuation of $200 million – and it was valued at $70 million during its Series A round.
Date published: 6 September 2021