COVID-19 has clearly made us understand that digitisation is the future. We have seen every type of startup in 2020 from Fintech to Meme apps, but the most common ones are the Edtech startups. Even I personally covered a funding story of such startups almost every other day. And now another such company is on the block. The new Edtech startup Winuall has recently raised a funding of $2 million and is ready to compete with similar companies.
Details about the funding
The new startup Winuall raised the funding of $2 million backed by Prime Venture partners, BeeNext, Ramaknt Sharma and many other angel investors. Using the recent funding, the company plans to build its products and hire across many functions. They also plan to use the funding to provide better solutions and infrastructures to offline coaching centres. And help them come online. Winuall doesn’t charge a one-time fee but instead works on a subscription model.
Goals of the Edtech startup Winuall
I have already talked about how COVID-19 has boosted the Ed-tech startup market. Like other startups, Winuall too also plans to use the situation to its favour and signup 20K institutes and 3 million students by 2021. Ashwini Purohit, CEO at Winuall, said:
“Our aim is to enable tutors in India to go digital and improve the quality of learning for students. We want to empower the tutors and coaching institutes to remain independent by building and retaining their own brand name through our platform”.
There is a significant increase in the number of institutes and individual teachers trying to go online. This is going to act as a significant bonus for all edtech startups. Shripati Acharya, managing partner of Prime Venture Partners, “The tutoring market is at a significant inflexion point, and there are a lot of tutors who want to manage their own student interactions and develop an independent identity. Winuall is facilitating this by helping tutors and coaching institutes to go digital,”
In 2020, India has registered more than 30 new Edtech startups during the lockdown and later. It is important to note that even though the online education market is huge, with so many new startups coming up, it might soon become unsustainable.
What are your thoughts on the same? Do let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.