Online language learning startup Multibhashi Solutions has raised an undisclosed amount of funding from venture capital firm Inflection Point Ventures (IPV).
The company plans to use the fresh capital to build new technology features, expand its team, and for marketing and scalability purposes, a statement said on Thursday.
The new features will include deep-tech capabilities of a content recommendation engine to well align the platform’s live instruction and self-learning formatted modules, founder Anuradha Agarwal told TechCircle.
Angel investor chairman of Param Capital Mukul Agarwal and global scientific communications company Cactus Communications also participated in the round.
“The company aims to become the go-to player for anyone trying to learn English. It also plans to expand to other languages of India and its neighbouring countries,” founder Agarwal said.
Founded in 2017, the Bengaluru-based startup’s offerings include translation services, localisation, voiceover, transcription and digital marketing services. It helps blue-collar workers improve their English communication skills. With its mobile app, users can learn spoken English and Indian regional languages through audio-visual courses and quizzes.
The idea for the platform, which claims to now have 1.6 million users, was born when Agarwal was helping women in her hometown learn English -- she launched it as a full-fledged product in 2017.
In November, Tokyo-based online English tutorial services company RareJob bought a stake in Multibhashi in an undisclosed investment. The startup’s other investors include angel investor Aniruddha Malpani and IIM Ahmedabad’s startup incubator CIIE.Co.
“The startup is focused on solving a layered problem with a scalable solution. I liked the reliance on repeatable revenue, the team composition and focus on execution,” Venkatesh Bhat, an IPV investor, said.
Multibhashi is IPV’s third technology-based startup investment in 2020.
In January, it made an undisclosed investment in Gurugram-based Trustmore Technologies, which owns and operates a real estate and property technology platform bigdeals.in.
Earlier this month, it invested $330,000 in Bengaluru-based Qvady Technologies, which owns and operates an online fitness platform Oga.