Edtech start-up Uolo has raised $22.5 million in Series-A funding round led by UAE-headquartered VC fund Winter Capital, as per an official statement. The funding round saw participation from existing investors Blume Ventures and new Dubai-based fund Morphosis Venture Capital. Uolo had previously raised a seed funding of Rs 20 crore ($ 3 million) led by VC funds Blume Ventures in November 2020, it added.
According to the statement, Uolo aims to bridge the gap through parent-teacher communication software and ERP management solutions at affordable pricing.
Uolo claims to partner with private schools and helps them develop online capabilities. The company has also introduced phygital learning programs, which are aligned with the school curriculums.
“The edtech solutions need to build on top of 6 hours spent in school daily and magnify the outcomes by leveraging the smartphones available at home. The lack of alignment with school, together with exorbitant pricing is causing edtech companies to falter,” Pallav Pandey, CEO, Uolo said.