Edumoon, an ed-tech firm founded by two Andhra University students, was valued at Rs. 3 crore in the Chunauti 2.0 startup competition. Cross-border innovation fund, Pontaq, has agreed to invest 20 lakh in Edumoon.
Edumoon, an ed-tech firm founded by two Andhra University students in the first wave of Covid-19 in 2020, has been selected and valued at 3 crore in the Chunauti 2.0 startup challenge hosted by the Software Technology Parks of India.
As a result of this, Pontaq, a UK-based cross-border innovation fund that invests in early-stage digital enterprises, has agreed to invest 20 lakh in Edumoon.
The education business advanced to the seed fundraising phase of the Chunauti 2.0 startup contest after competing against around 3,000 other startups from throughout the country.
The Covid-19 epidemic has had far-reaching consequences for humanity.
But Edumoon’s founders, Kapuganti Vikas and Ponnada Mahidar, have transformed hardship into opportunity.
When the Covid-19 issue brought the whole education system to a standstill, the two young people used the power of technology to sow the first germ of their enormous idea.
They created an Instagram feed to do exam paper analysis to assist other students, which was an instant hit with the student body.
Later, they broadened their scope to include online lectures, seminars, boot camps, skilling courses, internships, and so on.
A 15-person team is now working on several areas of the Edumoon, such as technical help and tuition, as well as mentorship and design.
According to Mahidhar, they have partnered with several institutions and private organizations to develop a student community and assist students in advancing their careers.
Mahidhar explained, “We also use numerous social media sites to boost our exposure and reach. Through our firm, we hope to bridge the gap between the industry and the students.”
Mahidhar further mentioned that their firm is now nurtured at the Andhra University Incubation Centre.
“We will expand our operations even more for the sake of the student community,” he continued.
On different social media channels, Edumoon now has around 15,000 student members.