Online teaching platform Teachmint, announced that it has raised $16.5 million in Series A round led by Learn Capital. This investment round also saw participation from CM Ventures, and existing investors Lightspeed and Better Capital.
Bengaluru-based Teachmint is a mobile-first, video-first, teaching platform that enables teachers to seamlessly digitise their classrooms. The platform also enables ease of content delivery, enhanced student engagement and seamless workflow tools. With over 7 lakh teacher registrations, Teachmint claims to be the world’s largest live teaching platform outside China.
This funding also marks the first major lead investment in India by Learn Capital, often regarded as the first-ever and leading global edtech VC with early investments in Coursera, Udemy, Brainly, and 50+ global category leaders.
This is Teachmint’s third round of investments within 10 months of its launch in May 2020, making it one of the fastest edtech start-ups in India to raise more than $20 million in capital. The start-up will use these funds for hiring top talent, R&D on teaching technology, strategic acquisitions, and further market expansion.
“We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep and extra-curricular learning.
“We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause” said Mihir Gupta, co-founder and CEO, Teachmint, which he founded along with Payoj Jain, Divyansh Bordia and Anshuman Kumar.
Teachmint has been built with a focus on regional customization and is available in 10 Indian languages other than English. Available as an Android, iOS and Web application, Teachmint is ranked amongst the Top 5 free Education Apps on Play Store in India.
In less than 10 months from launch, more than 700,000 teachers from 1,500+ cities and towns have signed up on Teachmint from Srinagar in Jammu and Kashmir to Port Blair in Andaman and Nicobar Islands. Backed by some of the marquee investors like Learn Capital, Lightspeed, Better Capital, and Titan Capital, Teachmint is led by alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy and Roposo (Glance).