Noida-based edtech startup Genius Corner has raised ₹2 crore in an angel funding round from Ranbir Singh, Mahesh Mohta and Lakshmikantan Sundereswaran, avid equity investors. Other investors with a technology background who participated in the round included Dipak Varshney and Puneet Garg.
The funds raised will be used to implement machine learning, grow footprint across India, and boost product development.
Genius Corner was launched by Vishal Khatter, an IIM alumnus, Dheeraj Khatter, an NIT graduate, and Samrat Chauhan, an IIT Kharagpur graduate, in 2014. The startup is aimed at providing a personalised learning experience for students by leveraging artificial intelligence and machine learning.
The edtech startup works with a number leading schools and institutions across the country, helping more than 50,000 students. Genius Corner is working with SRS International School, G.D Goenka School, Springdales School, and Montfort.
Commenting on the fundraising, Vishal Khattar, co-founder of Genius Corner, said,“ This funding is a significant milestone in allowing us to expand the business, strengthen development and create value in the market with new feature. Our focus will always be to assure our students to get the highest quality, along with reliability & accountability. We will be utilising the funding to implement the Machine Learning and grow Genius corner footprints at PAN India level.”
Talking about the investment, Mr Dipak Varshney said, “Artificial Intelligence-based personalized learning will bring wonderful benefits to the Students and educational institute. We need to revolutionise the way our nation approaches education and Genies Corner provides that strongly integrated experience with their core intent being on skill development and learning. I firmly believe that this product is uniquely positioned to make a powerful change in learning outcomes, in India and globally.”
According to an IBEF report, the education sector in India is expected to reach $101 billion by FY19, from $91 billion in FY18. There is a significant opportunity for growth in the sector and the boost from the government is set to further excite the growing number of startups.
Other players in the broader edtech segment helping the Indian students include Byju’s, Unacademy, Toppr, Simplilearn, and Vedantu, among many others.
Here is a list of top edtech startup across various domains in India.