Edtech Firm Saarthi Marks Final Close Of Pre-Series A
- ByStartupStory | January 31, 2023
Ahmedabad-based edtech startup Saarthi Pedagogy on Tuesday announced that it has marked the final close of its pre-Series A funding round at $3.7 million (around Rs 30 crore).
Saarthi has completed a $3.7 million funding round in two tranches, with the first leg bringing in $2.1 million from Pinnacle Investments, a subsidiary of the Prestige Group, and the second tranche securing $1.6 million from GVFL Ltd and other high net worth individuals. To date, Saarthi has raised a total of $4.7 million in funding.
The fresh capital will be used for product development, hiring, content creation and in sales expansion.
Founded by Sushil Agarwal in 2018, Saarthi Pedagogy offers learning management solutions for educational institutions to identify improvements in the learning outcomes of students. The startup claims to cater to 1,500 schools and 2,00,000 students and aims to grow the number to 5,000 schools and 8,00,000 students for the academic year 2023–24.
Sushil Agarwal stated “We are focused on solving the problem of 4.5 lakh budget schools that charge a fee between Rs 15,000 and 45,000. These are schools where affordability is a concern and students are value-conscious, but they also require a tech-driven learning solution to make a difference in their student’s learning outcomes,”
The funding announcement comes at a time when the edtech sector has been going through one of the toughest funding crunches in the recent past. However, some edtech startups have managed to raise funds of lesser value.
On Monday, upskilling platform Moat School had raised an undisclosed amount as part of its pre-Series A funding round. Prior to that, learning management system startup Toddle secured $17 million led by Sequoia Capital India in a Series A fundraise.
GVFL, an established venture capital firm based in Ahmedabad, has a track record of supporting startups. It has invested in 96 startups across nine funds, and recently closed its ninth fund at INR 185 crore. GVFL has a strong focus on startups, having invested in 13 companies through its eighth fund, including Frazzo, Sequretek, Pet Pooja, and Qarmatek. The firm recently led a seed funding round of INR 5 crore for pet grooming platform Zoivane Pets.
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