Excl: Digital learning startup LurnQ raises funding from Seedfund
LurnQ, a digital learning platform run by Mumbai-based Technium Labs Pvt Ltd which develops Web-enabled learning tools and materials, has raised an initial round of funding from Seedfund, an early-stage venture capital fund, sources close to the development told Techcircle.in.
However, several attempts to reach Seedfund executive director Shailesh Vikram Singh over the phone failed to elicit any response till the time of writing this article.
The money raised will be utilised to develop more digital content and also for hiring people.
Technium Labs is an education technology firm aiming to empower both learners and educators and maximising the resources available across the digital space. LurnQ provides access to free digital content and focuses on varied topics such as advertising, art, books, branding, creative writing, current affairs, economics, education, Java programming and more. Since the content is free, one simply has to log in to access the material. "Our vision is to evolve LurnQ as a platform that changes the way people experience education in a way that augurs well with the digital life style of today's learner," the LurnQ website states.
Technium was founded in 2011 by a team of four â€“ Tarun Mitra, Rajshekhar Ratrey, Ramesh Nidadavolu and Devvrat Arya.
An M.Sc. in Nuclear Physics from Delhi University, Mitra had previously worked with Aptech Ltd and also founded Somega, a technology company dedicated to enhancing electronic connectivity among key stakeholders in healthcare space, through the utilisation of its unique and proprietary tools.
Ratrey, an IIT-Bombay passout, had worked with CDS Solutions and set up Honor Foundation which provides education, skilled employment, micro-financing and healthcare facilities to people below poverty line.
Nidadavolu, another IIT-Bombay alumnus, had previously worked with companies such as Deloitte Consulting, FischerJordan LLC, Reach4India and Pleyeon Media.
A couple of months ago, Seedfund invested in Bangalore-based Jeeves Consumer Services Pvt Ltd, an electronics product/appliance services provider catering to individual households. Prior to that, it invested in Innoz Technologies, a mobile search platform. The money raised by Innoz, estimated to be between $2 million and $5 million, would be used for marketing, hiring and strengthening the technology base to support the increasing demand and traffic.
(Edited by Sanghamitra Mandal)