Delhi-based edtech startup CueMath, run by CueLearn has raised $4Mn in Series A round of funding from VC firm Sequoia Capital India with participation from existing investor Unitus Seed Fund.
Founded in 2013 by Manan Khurma and Jagjit Khurma, CueLearn, provides after-school learning programs for Mathematics, with a unique distribution model: tapping the incremental efforts of women and senior citizens with basic academic backgrounds (but limited or no teaching credentials).
CueLearn’s flagship program CueMath is an after-school maths learning program for students from grades LKG through 8.
Designed by math, education and technology graduates from IIT, IIM, Stanford, Cambridge and Harvard, Cuemath, makes every aspect of learning maths engaging and comprehensive by using math worksheets and application-based technology under the supervision of trained and certified teachers.
The startup will use the newly raised capital to expand to international markets and increase the number of teachers that use its platform from 1,200 to 5,000.
CueMath uses physical worksheets, quiz cards, along with other tablet-based content it develops in-house and targets students from lower kindergarten to Class 8. It operates on a micro-franchisee model where local tutors sign up with the company.
The firm is present in New Delhi, Mumbai, Bengaluru, Hyderabad, Chennai, and Pune.
Prior to this, in August 2015 raised an undisclosed amount from former Managing Director of Canaan Partners, Alok Mittal.
The Indian education market is estimated to grow at $40 Bn by 2017, whereas, Cue Learn assesses that the tuition market or after-school learning market in India is highly-fragmented and is pegged at $5 Bn. Earlier in March 2016, Byju’s raised $75 Mn from Sequoia India and Belgium-based investment firm Sofina. Other startups working in this segment include Curiositi, Eckovation, MeritNation or players like Logicroots, Sigrid Education, Flipclass, which reach out to students across the country through its online platform.
The development was reported by LiveMint.
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