Jaipur-based edtech startup Tinkerly has raised Rs. 6.5 crores in the latest round by Navneet Tech Ventures, a wholly-owned subsidiary of India’s leading publication and content provider Navneet Education (NEL).
With this round, the total funding in the company will reach Rs 10 crores. The round witnessed additional participation from the existing investors SucSEED Angel Network, Keiretsu Forum, Divyashish Jindal (Head of Academics at Doubtnut), Chand Das (Former CEO of ITC Education), Saurabh Aggarwal (Co-founder Fitso, Acquired by Zomato), Marwari Catalysts, and others. Skwerup Capital Partners has advised the company in this transaction.
The funds will be used in product development, to increase consumer awareness, and expanding in new geographies with vernacular content as the company aims to create a strong global (global with localised enhancements) brand.
Ketan Gala, Director, Navneet Tech Ventures said in a statement, “Tinkerly’s approach is in the right direction and ensures that our children are future-ready, and as a Company, they are taking a leap in the right direction as well.”
Tinkerly's monthly revenues have grown 8x in the past 3 months since the launch of the new version of its learning platform Let's Tinker in April of this year. The platform has 50,000+ online learners who have consumed over 300K+ hours of learning.
Tinkerly’s Co-Founder & CEO Sharad Bansal added, “The fresh capital will multiply our efforts to rapidly grow the online user base and invest in technology.”
Prior to Covid-19, exposure to Robotics or Coding was limited to students studying in less than 1% of total Indian schools. With the adoption of online learning, access to quality learning has been democratized. Tinkerly’s blend of toys and vernacular content enables students to design robots, make smart AI gadgets, and write unlimited lines of code alongside the live guidance from teachers in their first language all at one place.