Exfinity Ventures leads $5 mn Pre-Series A in edtech startup 3rdFlix
Hyderabad-based edtech startup 3rdFlix, which offers visually-interactive educational content, has raised $5 million in a pre-Series A round of funding, led by Bengaluru-based technology-focused venture capital firm Exfinity Ventures.
The funding round also saw the participation of venture capital firms Yournest Venture Capital and IDFC Parampara and high net worth individuals, whose identities were undisclosed, according to a statement.
The funds raised will be utilised to increase its market penetration in the 6-12th class segment besides launching immersive & experiential content later this year, the statement said.
The startup also hopes to start international operations in the USA, Africa, UAE, and South-East Asia within the next 18 months.
“In India, there is an acute problem of imparting effective knowledge and 3rdFlix attacks this core issue by ensuring that its cutting edge content can make teaching effective and increase student engagement,” said Shailesh Ghorpade, managing partner and chief information officer, Exfinity Venture Partners.
3rdflix Visual Effects, which operates the venture, was founded in 2014 by Subbarao Siddabattula, Ilangovel Thulasimani and Charu Noheria who have prior experience in building educational platforms.
The five-year-old startup claims to offer immersive learning content and test preparation for students in classes six-twelve. The startup’s unique selling proposition is the deployment of technologies like AR (augmented reality), VR (virtual reality) and MR (mixed reality), which the startup claims make its prepared content more interactive and experiential.
The company’s current flagship products include an AI (artificial intelligence) -based learning platform Corsalite. The company is also working on a yet-to-be-launched immersive content product under the brand name 3rdFlix.
“With amazing advancements in spatial computing combined with artificial intelligence, we are looking at a new era of intelligent, interactive and immersive content that will change the way we learn,” said Siddabattula, co-founder and CEO, 3rd Flix.
Recent deals in edtech sector
Bengaluru-based online tutoring startup Vedantu raised $42 million in a Series C round led by existing investor Tiger Global and new investor Westbridge Capital.
Noida-based AdmitKard, which digitises the admission process, raised $1 million in pre-Series A funding round led by Australia-based edtech fund Growth DNA and other investors.
US-based impact investment firm Gray Matters Capital invested an undisclosed amount in Delhi-based career counselling platform iDreamCareer.