Tutor search platform FlipClass raises $1M from S Chand, Blume
Ed-tech startup FlipClass has raised $1 million (about Rs 6.7 crore) in funding from publishing house S Chand and Co Pvt Ltd and Blume Ventures.
The startup didn't immediately specify what it plans to do with the amount raised but founder and CEO Vineet Dwivedi said the company will look to integrate S Chand's content with its own learning tools.
Bangalore-based FlipClass, run by Gyankosh Solutions Pvt Ltd, runs a technology platform that connects tutors and students for home, online and mobile tutoring solutions from kindergarten to Class 12.
It also has an inbuilt assessment tool to gauge student learning and recently launched mobile app FlipTutor, which uses a WhatsApp-like interface, to provide answers to students in real time. The company claims to have an active database of 4,000 students and 10,000 tutors.
The startup was founded in 2014 by Dwivedi, an IIT Kanpur graduate who previously worked with Infosys, Career Mantra and Pearson Education Services. The same year it raised Rs 1.5 crore in funding from LetsVenture, an online platform that connects startups with investors.
For S Chand, this is the second deal in the ed-tech segment within a month. The publishing house had recently invested an undisclosed amount in Testbook.com, an online test preparation platform for competitive exams. It has completed five transactions since 2014 and created a presence in smart class solutions, tablet-based content delivery, home tutoring and online test preparation.
"S Chand aspires to lead the knowledge ecosystem and support management teams building disruptive technologies in the educational services and content space," said Gaurav Jhunjhnuwala, director at S Chand. "Investing in FlipClass is a step in this direction."
S Chand had raised nearly Rs 179 crore ($27 million) from International Finance Corporation, the private-sector investment arm of the World Bank, and existing investor Everstone Capital in November 2015.