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Friday, December 2, 2022

Alpha Wave, Tiger Global lead $62M funding round of edtech startup Classplus

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Classplus is raising around $62 million in a fresh round of funding. The edtech startup’s existing investors Alpha Wave Ventures and Tiger Global are leading the round.

Delhi NCR-based edtech startup Classplus has raised INR 474 Cr (almost $62 Mn) in a new round of funding headed by current investors Alpha Wave Ventures and Tiger Global, according to regulatory records.

Alpha Wave Ventures and Tiger Global will each invest INR 158 Cr (about $20.6 Mn).

Chimera Investment of Abu Dhabi and current investor TRP Global Partners are also taking part in the deal, in which is allocating a total of 11,251 Series E CCPS.

As more fresh investors join in, the round size may grow even larger.

The current transaction appears to be Classplus’ Series D investment round, and it comes eight months after the company raised $65 million in its Series C funding round.

Tiger Global led the Series C financing, which included GSV Ventures, Alpha Wave Incubation, Blume Ventures, and RTP Global.

Investors have thus far contributed $109 million to Classplus.

It was founded in 2018 by Bhaswat Agarwal and Mukul Rustagi, is a K-12 learning platform that provides educators with full-stack mobile solutions.

It assists instructors in selling online courses to students.

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