3rdFlix Visual Effects Pvt Ltd, an immersive experiences EdTech company based out of Hyderabad, has raised $5 million in a pre-series A round led by Exfinity Ventures and joined by YourNest, IDFC Parampara and HNIs.
Shailesh Ghorpade, Managing Partner and CIO - Exfinity Venture Partners LLC, said, “3rdFlix is founded by a stellar founding team that is driven by a mission to democratise effective learning by supplementing teachers with content that is immersive, modular and conceptualised by veteran academicians. In India, there is an acute problem of imparting effective knowledge and 3rdFlix attacks this core issue by ensuring that its cutting edge content can make teaching effective and increase student engagement.”
3rdFlix was founded in 2014 by Subbarao Siddabattula, Ilangovel Thulasimani and Charu Noheria, all having extensive experience in launching multiple successful products across the globe. The founding team has extensive technology and operations experience in the US working in various senior management positions and have worked with the who’s who of the internet commerce industry. Looking at the flourishing Indian startup ecosystem, they have joined hands to bring their complimentary skill sets and global executive experience to build and launch world class EdTech and VFX products, thereby helping millions of students in reaching their learning goals.
“With amazing advancements in spatial computing combined with artificial intelligence, we are looking at a new era of intelligent, interactive and immersive content that will change the way we learn,” said Subbarao Siddabattula, Founder & CEO of 3rdFlix.
3rdFlix focuses on interactive and experiential learning to increase retention and engagement levels among students. The company uses VFX and technologies such as ML/AI, AR, VR, and MR to create life-like intelligent shared experiences for enhanced learning. The company offers two key products - an AI enabled learning platform under the brand name Corsalite and yet-to-be launched immersive content product under the brand name 3rdFlix.
Sunil Goyal, MD – YourNest Venture Capital, remarked, “Education is one sector that has a positive, cascading effect down the line and 3rdFlix is at the forefront by developing technologies to make the delivery of learning highly effective. The joy of learning using their tools will inculcate a student in us, once again, and we are delighted to be a part of this journey that promises to set new benchmarks, globally.”
3rdFlix plans to use the capital raised to increase its current market penetration from 1.5+ lakhs in 6-12th segment and launch immersive & experiential content later this year. The company has aspirations to launch in international markets in the next 18 months, particularly in USA, Africa, UAE, and South East Asia (SEA), as the immersive media market is growing globally. Currently, USA is the leading market in Immersive Media spending with about one-third of total global spend. By 2022, the market is expected to reach $179 billion growing at 76% CAGR, and other markets, such as China, UK, Japan and South East Asia, are expected to emerge as key markets.
Sridhar Rampalli, General Partner - Parampara Capital, mentioned, “We believe that 3rdFlix's high quality digital content coupled with its adaptive learning platform will assist in enhancing the students' learning experience and will enable seamless collaboration between schools and students.”
Devendra Agrawal and Manish Gupta from Dexter Capital advised and worked closely with the founders for this transaction.