Bangalore-based Impartus Innovations, an educational video technology startup, has raised series A round of funding led by private investment firm Kaizen.
The funds will be used for extending its services and enhancing the technology. Impartus had recently partnered with Pearson India for education related services. The clientele of the company include profiled institutes like IIM-Bangalore, SP Jain- Mumbai, Shiv Nadar Group, Manipal Group and Podar International.
Impartus Innovations is into video-based educational services, the startup was founded in 2013 by three IIT Delhi graduates Amit Mahensaria, Manish Kumar and Alok Choudhary with an aim to provide recorded interactive lectures that can be handy later.
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With 40 institutes as clients and over 15,000 students using its solution, the platform offers regular class lectures in a multi-view mode. The recorded classes are driven by technology to make them interactive and are provided to the students on their devices.
Besides, the company also offers add-ons such as post-editing and customizable analytics and reports. The services are offered in two models: as per first model Impartus invests and owns the infrastructure/hardware, and institute pays a recurring fee for availing the services. And, as per the second model, the institute buys and owns the infrastructure/hardware and the company provides system integration, software and maintenance services to the institute. The company has annual revenue close to $1 Mn.
Another Mumbai-based EdTech Startup TestBook had raised an undisclosed amount in funding led by Utsav Somani, Angel Investor, Indian Angel Network on online platform LetsVenture. The other players also included in this space are Toppr, which has raised $ 2.2 Mn from SAIF Partners and Helion Ventures; iProf Learning Solutions had raised $9 Mn and Embibe which raised $ 4 Mn from Kalaari Capital.