Speedlabs Additional Funding Brings Its Total To $2.5Mn
AI-driven hybrid educational technology platform SpeEdLabs receives an additional funding from India Discovery Fund (IDF), bringing its total funding to 2.5 mil USD to close the current round
Photo Credit : Shutterstock,
AI-based hybrid EdTech platform SpeEdLabs has raised funding from 35 North - India Discovery Fund. The company closes this pre-series round with a total raise of USD 2.5 million. The other investors include Mumbai Angels, LetsVenture, Ecosystem Ventures, Ah Ventures, SucSeed Ventures and a few family offices. The funds will be utilised to grow the company's presence and strengthen its infrastructure.
SpeEdLabs has has over 3000 B2B Tutorials clients in K-12 and Test prep segment across 200+ cities in India. By June 2022, the start-up is on track to generate Rs 1.5 crore each month. Currently, SpeEdLabs receives over 2 million questions per month from its Question suggestion engine, resulting in more than 10 million analytical data points per month.
Letsventure, Mumbai Angels, Ecosystem Ventures, SucSeed Venture, and Ah Venture are among the company's angel network platform investors. The other existing investors in SpeEdLabs include people like Manish Chhajed (SEP Venture), Mukul Agrawal (Param Capital), Ajith Pai (Paipal Venture), Nirav Mehta (MD - Morgan Stanley India), VGA Venture, Rohit Chanana, Pankaj Prasoon, Kshama Dhir (Partner - E&Y), Vipul Mittal (Partner - E&Y), Abhishek Goyal (Traxn) and Avinash Gupta (Ex- Merrill Lynch), Ritesh Mangla (Partner - Deloitte), Keval Doshi (Partner – E&Y).
