Hyderabad-based education services startup Edutor Technologies (India) Pvt Ltd has raised Rs 2 crore ($0.38 million) in seed funding from Hyderabad Angels. Sashi Reddi, serial entrepreneur and founder of SRI Capital led the investment by infusing Rs 1 crore.
Founded in 2009 by Ram Gollamudi, Edutor develops interactive learning platforms for K-12 students. Last year, it had launched a touchscreen device (roughly the size of a smartphone) that came pre-loaded with content aligned to school curriculum. The content can be upgraded as a student moves up.
According to Gollamudi, the funding will be used for product development and marketing the same in different cities. The company currently caters to Hyderabad and adjoining areas, and has tied up with 20-25 schools located in Hyderabad and Bangalore. It has a subscription-based revenue model and offers yearly packages for schools.
"We mainly focus on 6th-12th grade curricula and currently have 70,000-80,000 units of content covering this space. But we plan to add more content every day as content creation happens to be an ongoing process. We mostly provide Tablet-compatible learning platforms and will continue to do so," said Gollamudi.
The company might require another round of funding after a year and a half and would aim to scale up its revenue from Rs 2 crore to 10 crore in the coming year, added Gollamudi.