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Friday, April 12, 2024

Omidyar Network India leads $7M Series A funding round in edtech startup Entri

Entri, an edtech startup has secured $7 million in a Series A round of funding led by Omidyar Network India. Innospark Ventures, of Boston, and Hong Kong-based private equity Integrated Capital also participated in the round.

Entri.app, a vernacular edtech business, has raised $7 million in a Series A fundraising round led by Omidyar Network India, with participation from Boston-based Innospark Ventures and Hong Kong-based private equity firm Integrated Capital. This round of funding follows the company’s $3.1 million seed round, bringing the total money raised to $10.1 million, according to a statement from the startup.

Among the notable angel investors were Gokul Rajaram, a board member of Pinterest and Coinbase, and Sriram Krishnan, a partner at Andreessen Horowitz (A16Z), a Silicon Valley venture capital firm. The funds raised in this round will be used to drive Entri’s growth by developing content in existing and new languages, recruiting senior-level employees, and making strategic acquisitions.

The firm, founded in 2017 by Mohammed Hisamuddin and Rahul Ramesh, claims to have more than 8 million registered users and over 250K paid customers.

It provides around 500 courses in eight languages: Malayalam, Tamil, Kannada, Telugu, Hindi, Marathi, Bengali, and Odiya.

Furthermore, all of these courses are intended to help aspirants upskill in order to advance in the private sector and pass exams for government positions. Among the most popular course categories, according to the startup, are coding, personal finance, spoken English, state PSC tests, nursing certifications, and teacher examinations.

It provides Entri Gold cohort-based courses that pair a group of students with an expert mentor who speaks their native language. The mentor ensures that the candidates in the batch realise their goals through live interactive lectures, analytics, community group activities, and individualised advice. The business says that its Entri Gold curriculum has helped over 25,000 pupils pass a federal job exam.

To provide high-quality material, the edtech startup collaborates with coaching institutes, instructors, and influencers. The firm stated that it has already signed up 30 influencers in various languages with a total following of 20 million subscribers for its skilling classes and plans to sign up 100 more by 2022.

Founder and CEO of Entri.app, Mohammed Hisamuddin, said, “Entri.app is aimed at the non-English speaking market in India, which has over 40 crore people between the ages of 18 and 35. We believe that with the correct kind of training and learning in their native language, students may boost their employability and earning potential. With the kind of headstart we have, we believe we can affect more than 4 crore consumers’ lives in the next three years,”

Entri.app just bought the TS Madaan YouTube channel, which has over 11 million subscribers, as part of its creator model.

Sarvesh Kanodia, principal, Omidyar Network India, stated, “Entri.app has made significant development in terms of the range of courses available, the number of local languages supported, and the number of students utilising the service. We are thrilled to support the Entri.app team as they pursue their goal of becoming the #1 learning destination for ‘Next Half Billion’ people looking to increase their employability and earning potential.”

Entri.app raised $3.1 million in Pre-Series A funding, followed by an additional $1.7 million sponsored by Good Capital in July 2020. Along with many angel investors from Silicon Valley and India, HyperTrack founder Kashyap Deorah and BigBasket HR chief Hari TN took part in that round.


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