Edtech startup Uolo has secured funding of $22.5 million. The open architectural platform of Uolo enables the creation of physical learning programmes for K–12 educational institutions and students.
The UAE-based VC company Winter Capital led a $22.5 million Series-A investment round for the edtech startup Uolo. Existing investors Blume Ventures and the brand-new Dubai-based firm Morphosis Venture Capital both participated in the investment round.
According to a statement made by the firm, Uolo had earlier secured a seed round of INR 20 headed by VC funds Blume Ventures in November 2020.
The fact is that K–12 kids do not have much time left after a few hours of play, relaxation, and required schoolwork, according to Pallav Pandey, CEO of Uolo.
The use of cellphones at home can help the edtech solutions amplify the results on top of the usual six hours spent in class.
Edtech firms are struggling due to high prices and a lack of alignment with schools.”
The open architectural platform of Uolo enables the creation of physical learning programmes for K–12 educational institutions and students. According to the company’s statement, Uolo has worked with more than 8500 schools in India and presently touches over 3.7 million kids.
Winter Capital’s managing director, Anton Farlenkov, stated, “Consumer interest in online education has been demonstrated by the first wave of Indian edtech startups. They lacked an economical distribution, though. We predict that a new generation of edtech businesses will be able to establish organic, inexpensive distribution, enabling students to learn for $10 per year as opposed to $10 per hour. Our trust in this kind of business is the foundation for our investment in Uolo.”
For latest Bollywood Update Follow us on Instagram & Watch on Youtube
