Edtech startup Ingenium on Wednesday said it had raised an undisclosed amount of seed funding led by Lead Angels, along with existing investor Indian Angel Network (IAN) and others.
The startup will use fresh funds to scale up its operations, strengthen adaptive assessment technology, improve product and expand the team, it said in a statement.
“This investment round will help us to scale our engineering and sales team, make our product seamless for our customers, and introduce new features and revenue streams,” said Pramudit Somvanshi, CEO of Ingenium.
Founded by IIT Roorkee graduates Somvanshi and Mohit Patel along with IHM Mumbai alumnus Aakash Gupta in May 2018, Noida-based Ingenium provides a white-labeled platform for coaching institutes, schools, home tutors, and parents.
The startup is providing a SaaS platform to small and medium-sized education institutes and helping them to grow and manage their business better.
The pandemic has further accelerated the adoption of online education for all teachers and institutes. This is where Ingenium is helping the smaller players in technology adoption with cutting-edge features, -Kushal Khandwala, avid investor and member of Lead Angels.
“Ingeniun is targeting a billion-dollar business opportunity and aims to be among the leaders in this market in the coming years,” added Vikas Kuthiala, Lead Investor from IAN, which is India’s first and world’s largest business angel network with close to 500 members across the world.