Kerala Startup Mission’s Interval Raises ₹2.25 Crore in Pre-Funding Round
- ByStartupStory | July 4, 2023
Kerala-based start-up Interval, operating under the Kerala Startup Mission (KSUM), has successfully secured ₹2.25 crore in a pre-seed fundraising round, with prominent angel investors from the UAE leading the investment. This milestone highlights the increasing international interest in the Indian edtech sector, which has been witnessing significant growth in recent years.
Interval, an online one-to-one learning platform, offers a wide range of academic and non-academic courses, encompassing over 1,000 options. The newly raised funds will accelerate the start-up’s growth trajectory, allowing for expansion, increased market reach, and further development of its product portfolio.
Founded in 2021 by Ramees Ali, Sanafir O K, Najim Illyas, Shibily Ameen, and Aslah Thadathil, Interval focuses on providing personalised learning experiences to children in the K-12 sector, covering kindergarten to plus-two. The platform offers individualised classes tailored to the specific needs of each student.
Expressing enthusiasm about the funding, Ramees Ali, CEO of Interval, stated, “We are excited to have secured this pre-seed funding, which will fuel our aim to provide personalised and high-quality education to students across the K-12 segment. With the support of our investors, we are confident in our ability to transform the learning experience for children and empower them to realise their full potential.”
Despite being a relatively young start-up, Interval has rapidly expanded its customer base to over 30 countries, building a strong community of users in both India and GCC countries. Notably, the K-12 edtech start-up achieved an impressive revenue of ₹8.02 crore in the previous fiscal year.
The newly acquired pre-seed funding will primarily be allocated towards strengthening the company’s technological infrastructure, hiring more skilled teachers, and developing new educational content to further enrich the learning experience for students, Ramees explained.
The pre-seed funding round witnessed the participation of a select group of UAE-based angel investors known for their strategic investments in promising start-ups. This success serves as a testament to the tremendous market potential and investor confidence in India’s edtech sector. As Interval continues to scale and expand its operations, it anticipates playing a significant role in shaping the future of education in the country.
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