The new Indian Edtech startup company Teachmint raises $16.5 million, claims to invest in hiring more talent

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Bengaluru based company Teachmint is one of the best platforms for online teaching in India. Teachmint raised $16.5 million in Series A funding led by Learn Capital. The fresh financial income of capital will be used for hiring talent, R&D on teaching technology, strategic acquisition and further market expansion. This startup enables teachers tp digitize their classrooms. It claims to have 7,00,000 teachers on its platform.

Teachmint helps teachers conduct classes online through an app on their Android smartphone, iPhone or the web. The startup has built an all-in-one product that allows teachers to kickstart a live class, do doubt-clearing sessions, take attendance, conduct webinars, collect fees, find new students, offer support via phone calls and take tests, among other tasks. This is Teachmint’s third round of investment since its startup in May 2020, making it fastest edtech start-up in India to raise more than $20 million in capital. Teachmint is currently not monetizing its product, and doesn’t intend to do so in the immediate future as it is currently prioritizing reaching more teachers in India and also expand its offerings. most teachers have learnt about Teachmint through friends as it has limited investment in marketing. Teachmint is open to exploring any strategic acquisition opportunities with smaller startups. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. The product, available in 10 local languages, is highly localised for India-specific needs. Nowadays, Indian edtech sector has caught the more attention globally. The Indian edtech industries are expected to become a $30 billion industry, by 2032. Its current market size is $700-800 million. Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep and extra-curricular learning. Furthermore, it is available as an Android, iOS and Web application, Teachmint is ranked amongst the Top 5 free Education Apps on Play Store in India. Teachmint is backed by some of the marquee investors like Learn Capital, Lightspeed, Better Capital, and Titan Capital, Teachmint is led by alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy, etc.

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