Online teaching platform Teachmint has raised $20 million in its Pre-series B funding round led by Learn Capital with participation from CM Ventures.
The new funding comes in just two months after the Bengaluru-based startup had raised $16.5 million in its Series A round led by the current lead investor, Learn Capital.
Teachmint, which started its journey during the pandemic, has developed a mobile-first, video-first tech infrastructure to help teachers take online classes, engage with students virtually, manage their classrooms, and also collect fees. According to its co-founder and CEO, Mihir Gupta, the platform has amassed over one million teachers from over 5,000 Indian cities and the usage is growing by over 100% each month. The startup claims that in the last month alone, students have consumed over 25 million live classes on its platform.
Besides taking a different approach to tackle the education space in India, another key thing that differentiates Teachmint from other EdTech startups or platforms is its in-house prowess with tech infrastructure. While most startups rely on other technology providers for streaming their videos, cloud storage and processing tasks, collecting fees, and others, Teachmint is able to do them all through its in-house technology offerings. “Zoom and Google Meet are great services for talking to people, but they are not fundamentally designed to solve the needs of teachers and students,” Gupta told TechCrunch. He said that through its proprietary approach, its platform is able to significantly control and improve the interactiveness in these classrooms.
Speaking about the platform, Gupta said,
“We have created a new category altogether. Any teacher can download the Teachmint app and create their first classroom within minutes. This ease of digitization of classroom didn’t exist before Teachmint.”
With Teachmint, teachers can also create public links of their classrooms and share them on Facebook and other platforms to create additional distribution channels. Students also don’t need to jot down the entire session. The platform delivers the notes that teachers go through during their classes in real-time with students.
The startup said it will use the fresh funds to continue to expand its product offerings, hire new talent, and expand outside of India to serve teachers in the international markets.
Commenting on the investment, Vinit Sukhija, Partner at Learn Capital, said in a statement,
“In just 12 months, Teachmint has blossomed from a nascent idea to the No.1 ranked education app in India – an unprecedented growth narrative for an Indian EdTech company. This market resonance is a testament to the Teachmint team’s ongoing commitment to authentically incorporating teachers’ perspective into the company’s ever-expanding suite of market-pioneering digital teaching tools. Having inaugurated its partnership with Teachmint just several months ago, Learn Capital is thrilled to now augment its partnership at this critical juncture in the company’s trajectory as it plans for exciting new product launches and international expansion.”
Besides funding, Teachmint also announced a new product to serve schools and colleges. The product, called Teachmint for Institute, offers educational institutes a platform to conduct and monitor all their online classes institute activities.
Teachmint had earlier raised $3.5 million in its seed funding round led by Lightspeed India and an undisclosed amount in its first funding round led by early-stage investor Better Capital.
