Friday, May 20 2022 | Time 22:10 Hrs(IST)
Business Economy

Online education marketplace edustoke raises Rs 3 crore seed capital from Indus

New Delhi, Jan 17 (UNI) As investors continue to bet big on start-ups, online education platform edustoke has raised Rs 3 crore in seed funding from Indus Initiatives.

The new-age firm would use the funding to bolster its technology and operations in school search and advisory vertical as well as fresh initiatives.

Founded in 2017 by Pawas Tyagi and Rohit Malik, edustoke's user base has doubled and institutional client base tripled during the last 6 months.

Commenting on Indus’s fund infusion Pawas Tyagi said, “We are very pleased to welcome Indus Initiatives as our partner in realizing the vision that we had set out for edustoke. We are entering a very exciting, high acceleration phase in our journey and I am confident that this partnership will grow many folds in the coming months. We aim at expanding to 45 new cities within the country and internationally and anticipate a 3X growth this year.”

In a statement, edustoke said that it has helped 12 million parents in the last four years in choosing the right school for their child and in the process, helped over 2,000 schools reach out as well as engage with prospective parents and thousands of enrolments.

Speaking on partnering with edustoke, Sajeev Mishra, CEO, Indus Initiatives, commented, “edustoke is on a very strong foundation and poised to grow at a rapid pace. We want to ensure that every parent has the information, advice, and ability to get the best education and development opportunities for their child."

"edustoke (has) already achieved what most startups aspire to after having received a couple of rounds of funding. They are well on their way to become the biggest k12 education marketplace. Indus is planning a longer, deeper engagement with edustoke,” he added.

The platform is currently servicing 15 cities in the country and plans to expand to 45 new cities by early 2022, both national and international, such as Bhopal, Lucknow, Guwahati along with Dubai, Abu Dhabi, Riyadh, Doha and Bahrain among others.

It is working with banks and fintech companies to extend 0% EMI to parents to afford quality education.

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