Mumbai Angels Network, a platform for early-stage investments, along with Auxano, and other eminent angel investors, has invested INR five cr in edtech startup Avishkaar as a part of pre series.
Avishkaar is a category leader in next-generation technology education that focuses on robotics, AI, coding and app development for children between five and 15 years of age through its hardware and software products. Avishkaar plans to utilise the funding towards product development and further expansion of its portfolio in addition to hiring talent. Further, with its mission to build an army of young innovators globally, the company will invest in marketing; India will continue to be a focus market this year with enough scope to grow in Tier-I and Tier-II cities while catering to inbound queries from international institutions.
Speaking about the investment, Tarun Bhalla, Co-founder and CEO, Avishkaar said, “Avishkaar’s goal since its inception has been to create an army of innovators. Exponential technologies like AI, Robotics, Coding, and 3D printing are already defining the world around us. However, with Covid-19, technology is at the heart of everything, and we must impart these skills amongst our children if they find these fields exciting. Avishkaar’s approach is one of the platforms that comprises hardware kits, software solutions, and LIVE online classes to ensure that children have the right tools, curriculum, coaching, and environment to excel at these skills.
“We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward,” added Bhalla.
Adding to this, Nandini Mansinghka, Co-Founder and CEO, Mumbai Angels Network said, “Edtech is one of the most lucrative sectors and one of the few industries that has emerged triumphant from the pandemic’s impact. The education sector will heavily rely on technology-driven teaching and learning even after the pandemic has passed. Avishkaar has been consistent in providing seamless solutions that cater to today’s learners and we believe that this investment will enable them to further innovate, expand their offerings and grow.”
“Since the time of our investment in 2018, the Avishkaar team has witnessed a life cycle in the business, both good and not-so-good times, and their passion along with tenacity has been displayed over the years. Having launched new product lines along with creating new verticals, strengthening the leadership and operational teams, Avishkaar is poised to reach greater heights,” said Brijesh Damodaran Nair, Founder and Managing Partner, Auxano.