16 March, 2016, Bangalore: Avagmah, a Bangalore-based edtech startup focussed on higher education, has acquired investments from Kris Gopalakrishnan, Co-Founder and Former CEO & MD of Infosys and Atul Nishar, Founder of Hexaware and Aptech Computer Education. In the last 18 months Avagmah has secured US $5 million in investments.
Avagmah will use the latest investment on technological enhancement in acquiring new Indian university clients. It currently works with three universities that include Pondicherry University, Bharathidasan University and Los Angeles-based UCLA Extension.
Kris Gopalakrishnan, an investee in Avagamah says, “The current brick and mortar higher education system is facing major challenges of excellence and access, with only 24 million students enrolled out of the potential 120 million. Universities and top tier institutions have to adopt technology to provide access to quality education to millions of working professionals and students in urban and remote India, which would then address the demand-supply gap of skilled talent. I see great potential in startups like Avagmah which can bring in positive disruption in our education system through technology.”
Avagmah provides state-of-the-art intuitive Avagmah Technology Platform (ATP) on a managed services model, assisting universities with digital marketing technology. It also provides application-based and web technology solutions for delivery of courses by universities. Avagmah offers web and mobile app platforms, helping universities manage the entire life-cycle of their students including marketing, admissions and other administration processes.
Atul Nishar of Aptech, who is also an investee in the startup says, “Shortage of quality faculty is the single major challenge which universities are facing today. Universities will gradually resort to using technology to increase their reach and ease faculty access to students. I firmly believe that education technology players like Avagmah will play an important role in the future of education in India.”
Karthik KS, founder and CEO of Avagmah says, “Avagmah spent the first two years in building a robust collaborative technology and demonstrating its business model at three of the university clients it had acquired. We are satisfied with the success in the initial phase, with one of the university clients reporting 200% growth in student enrollment in 12 months which reached itself to a much larger audience using Avagmah’s technology and services. Avagmah is now focussed on scaling its success to grow 10x in the next 2 years.”