Edtech startup Teachmint has raised $16.5 Mn in a Series A funding round led by Learn Capital. The funding round also saw participation from CM Ventures and existing investors Lightspeed and Better Capital.
Teachmint will use the funds for hiring top talent, R&D on teaching technology, strategic acquisitions and further market expansion.
Founded by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar in May 2020, Teachmint enables teachers to conduct online classes through a two-way interactive learning solution with video sharing and more. Besides this, it offers a tutoring management SaaS to help teachers mark attendance, conduct tests, create individual classrooms and projects, share learning material and more.
In October last year, the company had raised seed funding worth $3.5 Mn in a round led by Lightspeed India Partners. At the time, the company had claimed to have over 1 lakh tutors on board, taking classes in more than 1,000 cities across India.
“Our idea is that teachers take the front row, they come on board and try the tools and become their own brand through the unique ways of teaching and bring them online. That’s the fundamental difference between us and other edtech startups,” Teachmint’s Gupta had said.
The company’s competitors in the edtech segment include startups such as Teacherr, ODA Class, eduZilla, SkoolApp and Classplus.
The cofounder had added that edtech startups like BYJU’S, Vedantu and others operate in a content-first model which is basically recording content or animation that are eventually given to the students.
“Our company believes that it is almost impossible to eliminate the involvement of teachers,” he had emphasised.
Besides the healthy adoption of B2C edtech products in the past two quarters, the digital learning wave has also recently lifted prospects of B2B startups looking to cater to institutions and teachers. Teachmint is targeting the teacher layer in the value chain, whereas many other B2B products are looking at solving institutional challenges for colleges and universities such as distance learning courses, which have also attracted investor interest in the past few months.