Edtech startup WizKlub raises $1 mn in seed round

Edtech startup WizKlub raises $1 mn in seed round
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28 Jan, 2020

WizKlub, an edtech platform owned by Bengaluru-based WizKlub Learning, has raised around $1 million in a seed round led by venture capital fund Incubate Fund India.

The round also saw participation from the Singapore-based VC fund Insitor Impact Asia Fund, the startup said in a statement.

With this round, the total funds raised by the company, which helps school-age children code, stands at $1.2 million. 

The company plans to use the fresh capital for product and market expansion, the statement added. 

“Technology is transforming the world at an unprecedented pace, which necessitates children of this generation to be lifelong learners and adept problem solvers. Further, this generation needs to grow up with the confidence to be creators rather than just being passive consumers of technology," said Amit Bansal, founder and CEO of WizKlub in the statement.

A serial entrepreneur, Bansal founded WizKlub in February 2018. Prior to WizKlub, he has had two successful edtech exits -- Xcelerator and PurpleLeap. The company's HOTS (Higher Order Thinking Skills) and SmartTech programmes claim to develop cognitive skills in children aged 5-15 years through an AI(artificial intelligence)-powered technology platform that delivers a personalised learning path for children.

The WizKlub SmartTech programme helps children create technology products using coding, robotics, smart devices and AI.

The startup has more than 150 centers in Bengaluru and claims to have progressed 3000 plus children through its programmes. The company offers HOTS and SmartTech programs on a subscription model and is looking to onboard more than 10,000 children over the next few months. 

"As WizKlub's model is highly scalable and monetizable, we strongly believe that they will create a great impact to Indian K6 education space," Nao Murakami, general partner of Incubate Fund India said. 

Incubate Fund India is backed by Japan's seed focused fund Incubate Fund, and was launched in 2016. It has invested in startups like e-commerce platform ShopKirana, smart mobility company Yulu, e-sports platform GamingMonk etc. 

The edtech sector has gained popularity lately, attracting investor interest. Last week, AngelList led a seed round in edtech startup Konfinity. Matrix Partners India invested in a startup called Toddle, which is a productivity platform for teachers. 

Earlier this month, Byju’s became the most valued company in the segment after its valuation soared to $8 billion with a fundraise of $200 million from Tiger Global.