English Learning Startup Freadom raises $2.5 million from Capital A
- ByTejika Bajaj | January 13, 2022
The English learning edtech startup Freadom recently announced that it has raised a consolidated sum of $2.5 million in a funding round led by Capital A and a series of marquee investors.
The round witnessed participation from a variety of prominent personalities like the Bollywood actor Tiger Shroff, Founder of BharatPe Ashneer Grover, VMart Retail Founder Lalit Agarwal and the CFO of Global PayU Aakash Moondhara. Furthermore, a series of existing investors including Unreasonable Capital, Quantiphi and Singapore Angels group took keen interest in the funding round.
Company statement reveals that the recently infused fresh capital will be utilized by the edtech startup to invest in product and distribution. Further, the funding will be deployed to strengthen Freadom’s vertical presence across stakeholders for English as a second language.
Talking about the recent round of fundraise, the VC and CEO of Capital A, Ankit Kedia said, “Capital A has been backing startups with great potential in different sectors. This investment in the edtech domain is our first one and we are extremely upbeat about the potential of this segment in the years ahead – a growth that has also been induced by the pandemic. Freadom has been focused on solving for age and learning outcomes with the deepest impact and hence effectively capturing maximum value.”
Founded in 2016, Freadom is an ed-tech platform which provides students a platform to learn to read in English in any country where it is an aspirational second language. The startup has built a recommendation engine in collaboration with Stanford University and aims to reach more than 50 million users by 2023.
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