Ed-tech firm, uFaber has announced to have raised Rs 25 crore in a Series A funding round led by Mastermind JPIN Capital Partners and Gray Matters Capital. The company had previously raised Rs 2.5 crore from angel investors.
With uFaber striving to broaden its reach and offerings, the funding will advance its expansion ambitions, including increased system capacity, improved technology, and a larger team, an official release said. The online education frontrunners have concrete goals to enrol over one lakh students with more than 5,000 trainers onboarded by 2024.
According to Rohit Jain, co-founder of uFaber, the funds from the investment will be used to drive growth and enhance the training experience at uFaber. By investing in the product and the team, uFaber aims to continue advancing this mission and positively impact the lives of their students.
“uFaber’s area of focus and associated business model are aligned with GMC’s mission of “Finding Purpose with 100 million women”. uFaber trains teacher’s majority of which are women and gives them an opportunity to work from home in over 100 small towns to teach English via online mode to the youth at an affordable cost and superior efficacy. Spoken English will continue to be an important market for upward mobility of low resourced communities as well as necessary if India has to provide the future workforce to the world,” Smita Sircar, president, CEO, Gray Matters Capital, said.
Speaking about the Business model, CA Manish Ladage, founder, Mastermind JPIN Capital Partners, an SME-focused growth fund, stated that “UFaber is a uniquely positioned edtech company with the niche in online English test preparation and English-speaking courses, along with a strong proposition of one-to-one training by a significant number of onboarded trainers.”
Founded in 2015, uFaber provides customised training curricula for students as young as three years old. Catering to a wide range of demographics, these programmes focus on a result-centric approach that emerges from uFaber’s passion for education. The programmes include Fluent Life, eMaester, IELTS Ninja, UPSC Pathshala, and Real School.
Follow us on Twitter, Facebook, LinkedIn
