SUMMARY
Yuanfudao is one of the leading edtech companies in the Chinese market
ODA Class is planning to enhance technology and expand the product portfolio
The Bengaluru startup claims to have registered over 1 Mn users in just 50 days
Bengaluru-based edtech startup ODA Class, on Monday (March 2), announced that it has raised an undisclosed amount of funding in its Pre-Series A round led by China’s Yuanfudao. Yuanfudao is one of the leading edtech platforms in China
With the funds, ODA Class is planning to enhance technology capabilities and expand its product portfolio. The company will also invest in improving its operations, especially the teacher recruitment system. Yuanfuao claims to be the largest online live course platform for primary and secondary school students in China with 400 Mn users in the country.
Founded by Shushant Srivastav, ODA Class is an online platform which connects students with teachers. The startup claims that students can enter live classes even with low-speed internet connections. While ODA Class might sound quite similar to other edtech platforms, the startup has differentiated itself by following a dual teacher approach.
In this module, a professor provides online educational sessions to students and another assistant professor connects with the student to clarify any doubts. The startup claims that these assistant professors are available to clear doubts via online chat and guide students to better learning outcomes. The startup leverages artificial intelligence (AI) technology for its adaptive learning modules and customises the course content for students accordingly.
Since its launch in November 2019, ODA Class claims to have registered over 1 Mn users in just 50 days and is planning to add 10 Mn users by end of 2020. Most of the tutors on the platform are alumni of eminent universities such as the Indian Institute of Technology. ODA Class offers learning programmes for students in classes VI-XII along with courses to help students prepare for competitive exams like JEE, and NEET.
On the partnership with Yuanfudao, Srivastav said that the Chinese company not only brings investments but will also help ODA Class to improve its marketing capabilities. “Yuanfudao’s support will help ODA Class capture a considerable amount of market share by the end of 2020,” Srivastav added.
According to DataLabs by Inc42, there are around 4450 edtech startups in India. As per its analysis, test prep and K-12 edtech startups combined are estimated to be worth $1.3 Bn by 2021. In this segment, BYJU’S is leading the way for other startups, along with the likes of Vedantu, Unacademy, Toppr and others.
Similar to ODA Class, Vedantu also uses technology to bring together teachers and students on a single platform to enable live learning between them. Recently, Vedantu has raised $24 Mn in a Series C funding round led by global investment firm GGV Capital. The edtech startup’s existing investors also participated in the round. Other edtech startups which have gained popularity in India include Unacademy, Toppr, GradeUp, TestBook, among others.
