Edtech startup Avishkaar on Tuesday said it has raised Rs 5 crore in pre-Series A funding that will help towards product development and expansion of its portfolio in addition to hiring talent.
The company which clocked 5 times growth in FY21 focuses on robotics, artificial intelligence (AI), coding, and app development for children between age 5 and 15 through its hardware and software products.
“Avishkaar’s approach is one of a platform that comprises hardware kits, software solutions and Live online classes to ensure that children have the right tools, curriculum, coaching and environment to excel at these skills,” said Arun Bhalla, Co-founder and CEO, Avishkaar.
The pre-Series A investors included Auxano, Mumbai Angels and angel investors Alok Mittal (CEO of Indifi Technologies) and Varun Aggarwal (Co-founder of Aspiring Minds).
Avishkaar previously raised Rs 5 crore in seed investment from Auxano in 2018.
“Having launched new product lines along with creating new verticals, strengthening the leadership and operational teams, Avishkaar is poised to reach greater heights”, – Brijesh Damodaran Nair, Founder, and Managing Partner, Auxano.
In the pre-Covid period, the company was working with over 1,500 schools and had grown its user-base to over 100,000 children.
In 2017, Avishkaar started setting up Atal Tinkering Labs envisioned by the NITI Aayog. The company has set up over 1,000 such labs across the country.