Vocabulary learning startup VoLT gets seed funding
Ed-tech startup VoLT, run by Edutainment Spearheads Pvt. Ltd., has raised an undisclosed amount of seed funding from YMS Mobitech, a tech-based distribution company.
VoLT (Vocabulary Learning Technique) simplifies vocabulary learning process using creative teaching methodologies, mnemonics, anecdotes and colored pictures for better retention.
"Through its informative and entertaining products, VoLT is fast becoming indispensible for every student and this Strategic Investment will bring this new way of learning to more than 300 towns and cities of India through our existing network," said Ajay Laddha, co-founder, YMS Mobitech, on the investment.
VoLT, founded in January this year, claims to have over 300,000 downloads, with a monthly growth of close to 125%.
"With our Offline Products like Books, Games etc slated to be launched by December-end, we target to become the most powerful and widely-consumed vocabulary learning resource in India catering to school students, aspirants of competitive exams like CAT, GRE, BANK PO, SSC etc, Job seekers and English enthusiasts," Abhishek Jain, founder of VoLT, said.
Jain is an IIT alumnus and has previously worked with Resonance Eduventures and PACEâ€“IIT and Medical coaching centres.
In the English learning segment, Jaipur-based Intap Labs Pvt. Ltd., which runs cloud-based online language learning platform CultureAlley, has raised $6.5 million in Series A funding from venture capital firm Tiger Global Management and other investors last year.
Ed-tech has garnered a lot of investor interest lately.
In September, Prozo.com, an online marketplace for buying and selling study material, raised its pre-Series A round of funding from a London-based venture capital firm and two affluent individuals.
In the same month, Stoodnt, an educational-technology firm which facilitates interaction between students and admission counsellors or educational institutions, raised $300,000 (Rs 2 crore) in a seed funding round led by Google India managing director Rajan Anandan.
Among other startups, ed-tech platform Unacademy raised $1 million (Rs 6.7 crore) from a clutch of investors including Flipkart co-founders Sachin Bansal and Binny Bansal and Paytm founder Vijay Shekhar Sharma.