Bangalore based education tech startup Cuemath has raised $15 million in a series B round of funding led by CapitalG (formerly Google Capital) and Sequoia India. The company will use the funding for improving its learning systems and expanding to other cities across the country.
Cuemath had previously raised $4 million in just June last year. At the time the company said that it would expand to other cities in foreign markets as well. However, it seems to be currently focusing on expanding in India, where it is available in Delhi, Bangalore, Mumbai, Chennai, Pune and Hyderabad, with over 300 claimed offline centers in each of these cities.
Cuemath focuses on teaching mathematics using worksheets aimed at students from LKG to 8th grade. The company claims that its training methods are designed by graduates and experts in mathematics from institutions like IIT, IIM, Cambridge and Stanford University. Once a student signs ups, he/she will have to attend classes held by qualified and trained tutors in Cuemath centres. The platform covers the entire curriculum under CBSE, ICSE, and other board syllabuses.
Last year has been good for ed-tech startups in terms of funding. Jigsaw Academy, a portal for data analytics courses, raised $3 million just last month, while Gurgaon-based CollegeDekho, an online platform which lists college across streams in the country and offers test preparation material, raised seed funding worth $1 million the same month. In October, Schoolguru raised a little over $3 million in funding, while others like Meritnation, OnlineTyari, EduKart, Plancess and Toppr had also raised funding.
The sector also saw some consolidations with Careers360, an online career counselor and education services firm, acquiring the Mumbai-based college enrollment platform NoPaperForms, and online exam preparation service MockBank acqui-hired Litoro, a Vijaywada based web and mobile services company. Similarly, Toppr bought JEE prep test-taking platform EasyPrep for an undisclosed sum.