Edtech startup has raised $6 million Series A funding led by Elevation Capital. The round also saw participation from existing investors - India Quotient, Titan Capital and First Cheque.
The other investors include Vidit Aatrey (Co-founder, Meesho), Alok Mittal (Founder, Indifi), Vivekananda Hallekere (Co-founder, Bounce), Maninder Gulati (Global CSO, OYO) Abhinav Sinha (COO, OYO), Dhruv Agarwala (CEO, PropTiger) and Alvin Tse (Country Director, Xiaomi Indonesia ).
The funding will be used for improving the product experience for both parents and children, and developing more more holistic content, building brand awareness, hiring for leadership roles across the product, technology and engineering verticals, and driving expansion in over 500 cities in India and international markets.
Anshul Gupta and Arpit Mittal, Co-founders, Yellow Class, in a joint statement said,
”In the last 10 years, there has been an exponential rise in the time spent by children passively consuming online content—which is extremely harmful to their growth. Studies have shown that more than 100 million Indian kids below 13 years of age spend an average of 100 hours per month on YouTube and other similar platforms."
They added, "Parents are actively looking for better, interactive alternatives that would be beneficial for their child’s cognitive growth. With Yellow Class, we are creating a new category in the edtech space. Easy to access, fun, interactive classes that kids love. Now children can spend their time in active learning and hone new skills. We aim to serve 10 million monthly active users on YellowClass platform in a year from now. We are actively looking for top talent who can lead the growth of YellowClass to serve this large market.”
Founded in June 2020, Yellow Class provides free extracurricular and co-curricular classes, merging fun and learning for children in the 3-12 years’ age group, across over 40 categories like art, craft, dance, yoga, general knowledge, and logical reasoning to name a few.
Anshul and Arpit launched the company with the objective of improving accessibility to a variety of extracurricular classes for budding young learners. The platform’s online mode ensures it is easily accessible to children from their homes.
Commenting on the funding, Deepak Gaur, Partner, Elevation Capital, said, “Given the increasing importance of holistic development, extracurricular learning represents one of the fastest growing sectors in edtech. Yellow Class offers the widest range of extracurricular activities for children through live-streamed classes with a gamified AI layer that builds interactivity and engagement. Anshul and Arpit’s journey as they built and scaled the platform in a matter of six months is truly an inspiration.”
These classes are taught by accomplished mentors, including influencers, professionals, even celebrities, who are onboarded after a stringent selection process. Each class is attended by as many as 10,000 children simultaneously, where the AI gamification layer keeps them engaged through an interactive chatbot along with digital activities such as polls and quizzes.
Since its inception, more than 1 million children have been engaged in over 150 million minutes of learning and classes (collectively).
Edited by Anju Narayanan
Link : https://yourstory.com/2021/08/funding-alert-yellow-class-raises-6million-seriesa-investment-elevation-capital
Author :- Sindhu Kashyaap ( )
August 17, 2021 at 10:00AM
YourStory