Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
EdTech company iAugmentor Labs Pvt. Ltd has raised $149K (INR 1Cr) in seed funding from Rajasthan Angel Investor Network (RAIN) and other undisclosed investors.
The funding will be used to introduce new learning mediums such as games, animations, cartoons, and videos. It will also facilitate the enhancement of iAugmentor’s website content.
Founded in February 2016, by Pratik Marwah and Sameer Sikka, the Gurugram-based company curates personalised skill-based learning activities. It enables adaptive and experiential learning.
The company uses data analytic tools, artificial intelligence and an individual’s psychometric assessment. Psychometric tests evaluate an individual’s behavioural characteristics and cognitive aptitude. The company creates modules, intuitively linking graphics, haptic feedback, video, animation, movies, theatre, quizzes, games, simulations and instantaneous feedback – into a learning experience.
Sameer Sikka, co-founder, iAugmentor said, “Personalised learning trajectory of learners on our platform is going to be powered by millions of content items, across various learning media such as animations, cartoons games and expert videos to keep the learner engrossed. This investment will fund the continuous enhancement of iAugmentor’s content repertoire.”
The platform has partnered with both national and international universities. The EdTech company plans to expand its footprint across India and other countries based in Africa and the Middle East, in the next year.
Online education market in India is estimated to grow at a compounded annual growth rate of 17.50% from 2014 to 2019, according to a report published by Technavio, a technology research company.
In August 2016, Genext Students, a technology-enabled student platform raised $209K (INR 1.4Cr) from 1Crowd, a crowdfunding platform for startups. Prior to this, in March, Bangalore-based EdTech startup Avagmah raised an undisclosed amount of funding from Kris Gopalakrishnan and Atul Nishar.
Other major players in the sector include Edukart, classteacher.com, Embibe, Toppr, UpGrad and AlmaMapper.
This development was first reported by Mint.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.