Ed-tech firm Toppr raises Rs 350 crore in series D funding

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Published: July 30, 2020 12:30 AM

“With this investment, we now have the capability and reach to truly revolutionise the K-12 education experience and ensure that no learner is left behind,” said Zishaan Hayath, founder and CEO.

The funds will be used to launch new platforms for coding and schools, the company said in a statement.The funds will be used to launch new platforms for coding and schools, the company said in a statement.

Ed-tech firm Toppr on Wednesday said it has raised Rs 350 crore in series D funding, led by Foundation Holdings. Existing backers, including Kaizen Private Equity, also participated in the funding round.

With the latest investment, Toppr’s total funds raised stand at Rs 700 crore. The funds will be used to launch new platforms for coding and schools, the company said in a statement.

“With this investment, we now have the capability and reach to truly revolutionise the K-12 education experience and ensure that no learner is left behind,” said Zishaan Hayath, founder and CEO.

The pandemic has led to an increasing adoption of digital learning and virtual classrooms. The need to maintain social distancing has left students across the country using online classes to complete their current academic session. While start-ups in general are struggling to find backers, sectors like ed-tech, health-tech and those related to providing essential services are witnessing increased consumer demand and thereby investor interest. Earlier this month, Vedantu raised a fresh $100 million in funding, led by US-based Coatue. In late June, Byju’s raised fresh funds from US-based Bond, valuing the firm at about $10.5 billion.

Aakash Sachdev, MD at Foundation Holdings, claims Toppr has the highest traffic destination for K-12 learning which hosts over 1 million sessions every day. Sachdev will join the company’s board. Toppr has over 1.3 crore registered students on its platform.

According to the latest research by management consulting firm Ken Research, India’s online education market is expected to touch $2 billion by 2021.

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