Alpha Wave, Naukri parent’s fund lead funding in learning platform Udayy

Alpha Wave, Naukri parent’s fund lead funding in learning platform Udayy
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18 Jan, 2021

Skorion Technologies Pvt Ltd, which operates learning platform Udayy, has raised $2.5 million (Rs 18.3 crore) in seed funding.

The round in Gurugram-based Udayy has been led by Falcon Edge Capital-managed Alpha Wave Incubation and Info Edge Ventures, the investment arm of Info Edge (India) Ltd, which owns and operates portals including job site Naukri.

Other participants in this round include Better Capital, Cred and Freecharge founder Kunal Shah, and other angel investors, the startup said in a statement.

Udayy was set up by Saumya Yadav, Mahak Garg, and Karan Varshney, who are alumni of institutions including IIT-Delhi and Stanford University.

The company says its platform teaches mathematics and English to children between the ages of 6 and 11 through live classroom sessions.

It will use the capital raised in this seed round to focus on its next growth phase, including investments in curriculum development and expansion of the product suite.

“We have immense faith in the [Udayy] team’s commitment to deliver an educational experience that resonates with both young children and their parents,” Info Edge Ventures partner Kitty Agarwal said.

“The team has shown deep market understanding,” Alpha Wave Incubation managing director Anirudh Singh said.

Udayy says its platform is currently used by children from across 45 cities in the country, and that it runs more than 400 classrooms on a daily basis.

It also claims that its model has led to retention rates of over 97%. Prior to this seed round, the company says it raised angel funding in June 2019.

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