Hyderabad-based EduTech Startup IndigoLearn, has raised $150K in its seed round from angel investors based out of India, US and Europe.
IndigoLearn, founded in early 2017 by Sriram Somayajula, Sathya Raghu, Suraj Lakhotia, Sarat Veulmuri, along with the visual effects team from Thunder Studios has brought in a fresh approach to Accounting and Finance education in India.
The startup is looking to expand its student base 10x in next 12 months on the back of its funding and introduce new products, scheduled to be launched in the coming months.
“We have received excellent response from the student community to the new-age way of learning. Noticeably, a large number of students are from non-metro locations. The students’ results speak for themselves. Our pass percentages are 50% higher than the average and we have tens of rank holders amongst our students, including all India first rankers. Students want us to launch modules for additional subjects quickly; funds raised in this round would be used for content and product development,” Sriram Somayajula, CEO of IndigoLearn said.
IndigoLearn has introduced courses for students pursuing CA, CS and CMA. The specialty of the startup that it offers byte sized modules and rich visual-content based learning pedagogy.
Jamshed Jeejeebhoy, Director of Byramjee Jeejeebhoy Private Limited, one of the angel investors who participated in this round said, “The team at IndigoLearn is focused on solving the problem of access to quality education. Their holistic approach and strong desire to change the way students learn subjects like accounting & finance offer a unique value proposition.”
In last 12 months, the startup claims to have helped over 5000 students across the country to prepare for their CA examinations.
Going forward, IndigoLearn is planning to launch learning modules – over the next 12-15 months -- for other global professional courses and students of classes 11 and 12..
“There is a dearth of quality players in this space. I see good potential for players like IndigoLearn. With their student focused approach and high-quality content backed by extensive use of technology & analytics, IndigoLearn can substantially improve learning outcomes for the students,” Maheshwar Peri, CEO of career360.com, one of the angel investors who invested said.
IndigoLearn has tied up with educational institutions and onboarded several faculty in the last few months.
“Humans can understand and remember what they see and experience, much better than what they read. Complex topics and theoretical subjects, explained with real-life practical stories in a simple, jargon-free language with visual effects go a long way in improving learning experiences. Further, students are provided with analytics, which help them understand their areas of expertise and areas of improvement,” says Sathya Raghu, who behind the teaching pedagogy at IndigoLearn.