Uolo has raised $7 Mn in its pre-Series B round led by global edtech fund Five Sigma, with participation from existing investors Blume Ventures, Morphosis, and Alicorn
The startup said that the fresh capital will be deployed to expand partnerships with schools, strengthen GenAI-based learning companions
The startup raised $2.2 Mn in its pre-Series A round in 2020, led by Blume Ventures and Omidyar Network India
Edtech startup Uolo has raised $7 Mn in its pre-Series B round led by global edtech fund Five Sigma, with participation from existing investors Blume Ventures, Morphosis, and Alicorn.
In a statement, the startup said that the fresh capital will be deployed to expand partnerships with schools, strengthen GenAI-based learning companions, and deepen Uolo’s integrated learning ecosystem.
Founded in 2020 by Pallav Pandey and Ankur Pandey, Uolo Edtech is a school-first edtech startup that partners with private K-12 schools to deliver practice-based digital learning programmes and AI-powered home-learning companions across core subjects such as English, maths, computer science, and other STEAM areas.
Uolo Edtech acquired Uolo Technology that was founded in 2015 by Ankur Panday and Badrish Agarwal.
Uolo Edtech claims that its AI-powered programmes serve over 2,500 schools and support more than 1.1 Mn paying students across India.
The startup raised $2.2 Mn in its pre-Series A round in 2020, led by Blume Ventures and Omidyar Network India. This was followed by a $8 Mn Series A round led by UAE-based Winter Capital, with participation from existing investors.
India offers a uniquely large and evolving market backdrop. According to government data, the country has nearly 25 Cr K–12 students, with close to half enrolled in private schools. This provides a big opportunity to startups like Uolo.
Earlier this year, ChatGPT parent OpenAI organised “Education Summit, India” in New Delhi with an eye on the Indian education sector. The US-based AI giant plans to partner schools and colleges to offer a copilot-like experience for students and teachers.
The latest development also comes at a time when India’s edtech sector seems to be recovering from the slump of the past few years. While BYJU’S, once the poster child of the Indian edtech ecosystem, is currently undergoing insolvency proceedings, Unacademy is involved in M&A talks.
But, amid all these, edtech players like Leap, CENTA, and SpeakX raised capital this year. Meanwhile, edtech unicorn PhysicsWallah listed on the stock market last year, becoming the first major edtech player to go public.
