Hyderabad-based EdTech startup IndigoLearn.com, which focuses on teaching finance and accounting has raised $135k in a follow-on round from angel investors. Angel investors based out of India and US including Vivek Subramanyam, ex-CEO of Fintellix and Girish Vyasamudri, Vice President and General Manager - India at Tangoe participated in this round. The Company has so far raised $265K from Investors, including the angel round it had announced in April 2018).
Founded in early 2017, IndigoLearn.com provides online education for students pursuing CA and related courses in Finance and Accounting domains. It was founded by Sriram Somayajula, ex-VP Finance of Furlenco, Sathya Raghu, renowned CA faculty, Suraj Lakhotia who is an All India CA topper and Sarat Velumuri a techie from BITS Pilani.
â€śA significant portion of the current fund-raise will be used to reach a wider audience across the country, followed by product development and technology. We have made substantial investments in content development over last one year; in the coming year, we will be launching modules for several new subjects across various courses which will help us reach a much wider audience,â€ť Suraj said.
The startup has so far launched over 700 hours of immersive, visual rich content covering subjects primarily for Students of CA Foundation and CA Inter. In next one year, IndigoLearn is planning to launch modules for CA Final, global professional courses and classes 11 and 12.
â€śIndigoLearn is attempting to disrupt a market that has not seen one for a long time. They have built an excellent product that clearly differentiates from the rest of the offline / semi offline players in this space,â€ť Girish said.
Since its inception, the Company claims to have helped over 20,000 students across the country to prepare for their CA examinations and says that it has seen immense traction from Tier II towns as well. â€śWe have students in over 300 non-metro locations. There is a large amount of inbound interest from students and parents in smaller towns, given their lack of access to high quality content,â€ť Sriram says.
IndigoLearn now aims to scale its student base to 1 lakh students over the next one year on the back of funding and new product launches scheduled in the coming months
â€śWe are offering byte sized modules in story telling form, for complex topics and theoretical subjects, using movie quality visual effects / animation. In-addition, IndigoLearn provides students with detailed analytics on their performance. IndigoLearn is the only player in the Finance & Accounting education space offering these features to the students at affordable prices,â€ť Sathya Raghu, Lead Faculty and Director added.