Edvizo, a Bangalore based early-stage edtech startup, has now secured around $150000 in a seed funding round from Inflection Point Ventures.
The startup plans to use the new funds to utilize these funds to strengthen its technical and sales team, apart from acquiring more users and expanding to more cities.
Ravi Nishant, Founder and CEO, Edvizo says, “We are excited to work with IPV to continue building and rolling out our edtech platform at another level. Since the education sector is undergoing an enormous transformation due to the COVID-19 lockdown, most of the institutes are currently facing a lot of difficulties from conducting online classes to getting students for their new session. We are trying to tap into this opportunity.”
Commenting on the investment, Vinay Bansal, Co-founder and CEO, IPV, said, “Most edtech startups are going for the school, universities or directly to students kind of a market. But the coaching institute market is an untapped opportunity which Edvizo seems to be capitalising quite well. Their understanding of the market, pain points faced by the coaching institutes and application of tech in solving those issues has put them in the market very well. We are happy to back a very unique, an already profitable business model, being run by a passionate founding team.”