Edtech startup Kreedo secures $2.3 million in the Pre-Series A round of funding
- ByStartupStory | July 4, 2022
Kreedo Early Childhood Solutions, situated in Bengaluru, has secured $2.3 million in pre-Series A investment. With participation from Innospark Ventures, IIM-CAN, and The Chennai Angels, the round was co-led by the UBS Optimus Foundation, Spectrum Impact, Gray Matters Capital, and 1Crowd, all of whom are located in Switzerland. The most recent round of money will be utilised to hasten Kreedo’s future growth and development.
The husband-and-wife team of Mridula Shridhar and VK Manikandan, both graduates of IIM-Chennai, founded Kreedo in 2012 with the goal of transforming the way early learning is provided at a low-cost private schools and preschools. There are an estimated 350,000 low-cost private schools in India that primarily serve pupils from low-income households and charge less than Rs 30,000 a year.
Mridula Shridhar, CEO of Kreedo said, “Our objective is to democratise high-quality early education. Our partner schools are overwhelmingly interested in finding the cheapest and most straightforward solution to enhance core learning. With the latest round of funding, we will be able to introduce Kreedo to more than 7000 schools throughout many Indian cities.”
Dhun Davar, Head of Social Finance, UBS Optimus Foundation said, “We see Kreedo’s business model as a unique method to achieve social change by making excellent early education available to every kid from lower-income areas.”
“The pandemic has badly impacted the already vulnerable early education industry, and now Kreedo is finding enormous traction as they address a significant learning gap which schools require aid to fill,” says Pranay Adhvaryu, Head of Investments, Gray Matters Capital.
“We are pleased to be a part of their growth narrative and support their aim to touch more than one million children yearly in India, especially from lower-income families, by 2025,” stated Mirik Gogri of Spectrum Impact.
Also Read
Follow Startup Story
Related Posts
