Hyderabad-based edtech startup UCLID EduLabs Pvt Ltd has raised a Seed funding round of $235K from a bunch of US-based investors at a valuation of over $1 Mn. UCLID is currently running in the alpha mode with services in Hyderabad and will make a global beta launch in April 2018.
As one of its investors stated, “The very idea of building an application that can help education scenario in not just India but across the world is what excited me the most about Uclid. I have traveled a while with the team and I love their Passion and the gutsy effort to foray in a direction which is extremely challenging. As exceedingly more number of parents are determined to provide quality education to their offsprings, I have a strong feeling that the application will be a runaway hit in any part of the globe since education is key to any Nation’s success.”
UCLID will use the raised funds to pre-launch marketing and for improving the beta version of the product.
“We at UCLID have taken it as a challenge to tap into the unexplored areas of the edtech market. Being in constant observation of various educational institutions we were able to understand the challenges faced by them in the changing times. With UCLID we wish to provide a holistic solution to the community at large when dealing with everything related to study, skill and growth,” said Bhargav Krishna, co-founder, UCLID.
UCLID: A Unified Education Network Combining All Existing SaaS Solutions
After working for six to seven years with institutions providing SaaS-based edtech solutions, Anurag Shivarathri, another cofounder of UCLID, realised the need of a single platform where the different SaaS models can be clubbed together and a unified education network can be created.
As Anurag said, “The customisations don’t help much but only increase the complexity and add a cost burden to the institutions. The customer is never satisfied and there is no end to the expected tweaks in the given solution, ultimately making SaaS-based edtech as an expensive market both ways. Probably that’s the reason we don’t have any market leader in India yet when it comes to SaaS-based edtech startups.”
Thus, Anurag along with Bhargav Krishna and Sahitya Yerramsetty ideated UCLID in February 2017. UCLID is inspired from the name of ancient Greek mathematician and teacher ‘Eucleides’ also known as the father of Geometry. The founders have known each other from their college days and have always stayed connected through common ideologies and their love for art.