Ed-tech platform for kids Creative Galileo has raised $7.5 million, about Rs 60 crore, in Series-A round from a clutch of investors which includes Kalaari Capital, the company stated. Affirma Capital, East Ventures, Valiant Employee Investment Fund, and angel investors had also participated in this round.
“The company has raised fresh funds at valuation of $40 million — which is over three-fold higher compared to its around $12.5 million valuation in July last year,” Prerna A Jhunjhunwala, founder, Creative Galileo.
This brings Creative Galileo’s total amount of funds raised to $10 million, including a pre-series A round of $2.5 million in July last year.
According to the company, it will use the newly infused funds to scale up, accelerate hiring across the teams in multiple geographies, introduce regional languages and further strengthen the research and development of the platform.
“Subscriber acquisition cost for more ed-tech companies is at a very high rate but for us it continues to be Rs 1.5 because of which our growth has been very organic. We have enough capital in the bank now to focus on regionalisation of our product and launch in regional languages and also to launch in the international market,” Jhunjhunwala said and further added that the ed-tech firm will launch new products to make the learning journey for children more personalised.
Founded in July 2020, the company claims to have over seven million downloads.The company plans to double its team from 30 to over 60 in a year.
Creative Galileo is a character-based early learning platform for kids between three to 10 years.
“We are planning to launch in South East Asia. Our next go to market is Indonesia and Vietnam. We are mostly present in India but we have 10% of our viewership coming from foreign markets as well like US, middle east and Singapore. We have started building up a partnership in Korea with EBS Korea,” Jhunjhunwala said.
The company uses famous local superhero cartoon characters and has signed EBS Korea to get access to their content.
“We are also signing up some more Korean and Japanese characters because they have widespread usage in South East Asia,” Jhunjhunwala said.
In India, the company plans to start providing content in Marathi, Tamil and Telugu within six months apart from Hindi.
“In the last six months, Creative Galileo has achieved strong growth with low marketing spends. Creative Galileo has also consistently ranked among the top 20 educational apps on India’s play store – the only early learning app to achieve this distinction. This is a testament to the founders’ relentless focus and strong execution,” Kalaari Capital managing director Vani Kola said.
With inputs from PTI.