SaaS edtech startup Winuall on Wednesday raised $ 2 Mn from Prime Venture Partners, Beenext, Ramakant Sharma, the founder of LivSpace, along with a clutch of angel investors in the latest funding round.
The startup plans to use the fresh capital to enhance product capabilities and hire across technology, product, AI and business development teams. The teams will also work to build and democratise technology infrastructure for small and medium institutes, and help them digitise their offerings.
Founded in 2019 by Purohit and Saurabh Vyas, Winuall offers a SaaS plug-and-play platform on a subscription model for tutors and coaching institutes.
“We believe digital tools will become an integral part of the learning experience and evolve our education system in a massive way going forward. With the ongoing pandemic, this investment is a testament to how newer trends of online learning will emerge in the times to come. Our aim is to enable tutors in India to go digital and improve the quality of learning for students. We want to empower the tutors & coaching institutes to remain independent by building and retaining their own brand name through our platform,” said Ashwini Purohit, CEO, Winuall.
Winuall is a SaaS platform that aims to empower tutors. Its app takes their entire offline setup completely online with the features like live classes, video platform, quizzing platform, and many more other features.
The platform helps tutors build and strengthen their brand name through a white-labelled app. As the segment is a bit unorganised, the biggest challenge initially for the startup was to convince the coaching institute owners to use its products and see the value.
But recently it claims to have seen rapid growth and a 400% month-on-month rise in engagement and time spent, it claims. It recently crossed 2,000 tutors on its platform teaching more than 1.5 lakh students. The company claims to have seen a massive increase in live class hours and over 50 Mn minutes of learning had been delivered since the lockdown.
The startup featured in Inc42’s 30 Startups To Watch: The Startups That Caught Our Eye In August 2020.
The Edtech Wave In India
As per Inc42 Plus estimates, there are a total of 4,450 edtech startups launched in India to date spread across various segments such as — test preparation, online certification, skill development, online discovery, and STEAM kit and enterprise solutions. Inc42 Plus in its report ‘The Future Of Edtech In India: Decoding The $10 Bn Market Opportunity Report, 2020’, had estimated the sector to grow 3.7x in the next five years, from $2.8 Bn (2020) to $10.4 Bn (2025).
“The tutoring market is at an inflection point, and there are a lot of tutors who want to manage their own student interactions and develop an independent identity. Winuall is facilitating this by helping tutors and coaching institutes to go digital, providing them with content and performance improvement recommendations using AI,” said Shripati Acharya, managing partner, Prime Venture Partners.