Kyt is an educational technology start-up that provides its users with a platform for extracurricular activities and holistic learning opportunities. Most recently, the Singapore-based start-up has announced to have raised USD 5 million funding in its latest Series A funding round which was led by Alpha Wave Incubation or AWI, a USD 300 million early-stage fund managed by Falcon Edge Capital.
The edtech start-up is the first Indian company to get funded by Singapore-based January Capital which is known to be investing in the second-order businesses to boost growth in Asia.
Other than this, existing investors including Titan Capital, Sequoia Capital’s Surge also took participation in the funding round along with a few angel investors including Akhil Paul, Allen Penn, Anand Chandrasekaran- Director, Platform and Product Partnerships at Facebook, Kunal Shah- Founder of CRED, Kunal Bahl- Co-founder and CEO at Snapdeal, Jitendra Gupta, Aparmeya Radhakrishna and Martin Li. All of these investors took part in Kyt’s Series A funding round.
Founded on June 1, 2020, by former head of Uber Eats India, Bhavik Rathod and his wife Tripti Ahuja, Kyt is an online-first edtech platform for extracurricular courses designed by the best instructors and professionals from around the globe. The platform also offers individual and group live classes for children between the age group of t to 15 years.
On being asked about the latest funding, the company mentions utilising these funds to expand its operations in Abu Dhabi. Furthermore, the company plans to use the Emirates as a regional headquarters in order to target the GCC (Gulf Cooperation Council, the Middle East and other global target markets, according to a report by Live Mint.
As we are all aware of the COVID-19 situation in the world and in India, education has been greatly compromised for children. Schools, colleges and other educational institutions have all forced shut and children are completely dependent on the online study. Amidst this tragedy, start-ups like Kyt has brought learning opportunities in extracurricular activities for children to keep them engaged and ready for a post-lockdown and COVID-19 situation.
The platform offers courses and workshops on activities like Yoga, Chess, Music, Dance, Musical Instruments, Creative Writing and Public Speaking by combining live online lectures with video-based content in a full-stack.
Furthermore, the start-up mentions that these newly acquired funds will be used to strengthen their roots with deeper investments into the technology and product enhancement for an overall better experience for students. Kyt is also aiming for global expansion, with being already active in India, Singapore and the UAE, the edtech start-up is looking forward to entering Australia, Canada, the United States and the United Kingdoms in the upcoming months and years.