Online teaching platform Teachmint has raised $16.5 million in a Series A round led by Learn Capital, an ed tech focused venture capital firm based in San Francisco, with participation by CM Ventures and existing investors Lightspeed and Better Capital.
Bengaluru-based Teachmint is a mobile and video teaching platform with more than 700,000 teacher registrations and users in 1,500 cities and towns.
This is Teachmint’s third round of investments since its launch last May, and the company claims to be the fastest ed tech start-up in India to raise more than $20 million in capital.
Teachmint stated the funds will be used for recruitment, R&D on teaching technology, strategic acquisitions and further market expansion.
Mihir Gupta, co-founder and chief executive of Teachmint said: “We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K12 tutoring, test prep and extracurricular learning.
“We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets.”
Vinit Sukhija, partner at Learn Capital added: “From the Learn Capital team’s first meeting with Teachmint’s co-founders several months ago, it was clear that their collective team had meticulously architected an end-to-end, multi-modal, and best-in-class solution enabling teachers in India to instantly and seamlessly digitise their classrooms. Now with over 700,000 teachers, Teachmint has become India’s leading online teaching platform.”
Date published: 6 May 2021