Mumbai-based edtech startup Witblox has raised ₹1.3 crores in funding from the Mumbai Angels Network, as reported by YourStory. The round saw participation from 24 investors from the Mumbai Angels Network.
The startup will utilize the funds to support the growth of its business.
Mumbai Angels Investor Aditya Sanghi said, “I’m happy to be associated with the next phase of growth of Witblox. While helping children learn by building is rewarding in itself, I think this is a great team with the potential to build a big business. To make it big, a business needs a motivated, passionate team propelled by a purpose catering a growth market. I think Witblox has the right ingredients and it is time to execute heads down.”
Founded by Amit Modi in 2014, Witblox offers a range of robotics learning tools to enable the children in the age group of 8-16. It provides plug and play hardware toolkits that help the children learn across disciplines like design, hardware, electronics, and programming. The startup was previously incubated at Neotech, an incubator and accelerator from Ambuja Neotia.
According to a 2016 Google and KPMG report, Indian edtech sector is expected to reach $1.96 billion by 2021. A number of edtech startups are leveraging this opportunity to gain traction in the market by strengthening their technology platform and offering innovative products.
Some of the startups competing with Witblox in the edtech space include edtech unicorn Byju’s, Unacademy, STEMRobo, Smartivity, Flintobox, and Magic Crate, among many others.
Check out the list of top edtech startups in India.