Edtech startup Creative Galileo raises $7.5 million in funding from Kalaari Capital, others
- ByStartupStory | July 21, 2022
Creative Galileo, an edtech platform for kids, on Thursday said that it has raised $7.5 million in a funding round led by Kalaari Capital. Affirma Capital, East Ventures, Valiant Employee Investment Fund, and angel investors also participated in the fundraising round.
This accounts Creative Galileo’s total funding to $10 million, including a pre-series A round of $2.5 million raised in July last year. The company’s founder Prerna A Jhunjhunwala said the company has raised fresh funds at valuation of $40 million – which is over three-fold higher compared to its around $12.5-million valuation in July last year.
Founded in July 2020 by Prerna A Jhunjhunwala and Nikhil Naik, the company claims to have over 7 million downloads and will utilize the funds to scale up, and accelerate hiring across the teams in multiple geographies, introduce regional languages and further strengthen the research and development of the platform.
“Subscriber acquisition cost for more edtech companies is at a very high rate but for us it continues to be Rs 1.5 because of which our growth has been very organic. We have enough capital in the bank now to focus on regionalisation of our product and launch in regional languages and also to launch in the international market,” Jhunjhunwala added.
“In the last six months, Creative Galileo has achieved strong growth with low marketing spends. Creative Galileo has also consistently ranked among the top 20 educational apps on India’s play store – the only early learning app to achieve this distinction. This is a testament to the founders’ relentless focus and strong execution,” Kalaari Capital managing director Vani Kola said.
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