With an aim to building India’s best home learning programs for early learners in the age group of 0-8 years, education technology start-up ClassMonitor has raised INR 10 Crores in a Pre Series A round from Lead Investor Frontline Strategy Funds; Khimji Family (Muscat) and participation from existing investors Sarvann & Calega Family Office.
The platform is set to use the fresh funds for some exciting expansion which includes leveraging AI-ML-based technology to enhance learning experiences for young children. This unique hybrid offering will combine their high quality learning kits with a Metaverse based on experiential learning for children, allowing them a deeper, more immersive learning experience.
The company also plans on further strengthening its dominance in the early education sector by establishing a large network of franchised after school learning centres. Additionally, the start-up is also planning to diversify and build on their distribution by adding more channels including offline stores & schools while building an organic traction from International Markets with a strong focus on the UAE markets.
To accomplish these objectives, the company is also looking at senior high profile hires.
Founded in 2016, by Vijeet Pandey and Vikas Rishishwar, ClassMonitor started off as a messaging platform for parents and teachers which later took the shape of a hybrid early learning tool that provides holistic learning kits for children in the age group of 0-8 years. These highly engaging and well researched kits focussed on experiential, self-paced learning and nurturing parent child bonding. During the starting phase the platform built an O2O model in EdTech. The platform has doubled their user base in the past 6 months and plans to work towards becoming a ’first choice’ early education EdTech brand by 2023. This will be done by complementing their physical presence with digital channels including YouTube which they have recently launched.
With the growth of technology, the platform has identified the need for early education (age group of 0-8 years) to nurture the cognitive abilities of a child, something which has been hampered by unchecked screen exposure. To achieve this, the Indore based start-up works on the fundamental development of a child through five core areas: linguistic skills, logical thinking, sensory and motor skills, cognitive skills, and creativity with the help of their holistic learning kits. Key concepts in literacy, numeracy and science and environmental awareness are integrated with art and craft, role-play and puppetry, music and movement as well as skills such as logical thinking and problem-solving. Important values of empathy, sharing and honesty are also woven into the learning experiences. Each kit comprises 250+ activity sheets, worksheets, flashcards, AR Cards, posters, story cards, game boards, etc.
Commenting on the announcement, Vijeet Pandey, Cofounder & CEO at ClassMonitor stated, “This is a significant milestone in our journey to become the market leader in early education. I want to thank our existing and new investors for their continued support. This is an unequivocal endorsement of our brand promise and delivery capabilities in establishing a dominant position in the early education segment.
I am convinced that early childhood education in India is largely unorganized, and that a significant number of children do not have access to affordable, outcome-based quality education. ClassMonitor is well positioned to bridge this gap and provide this segment with world-class experiential learning. The funds will be used to improve our content, technology, and distribution. We already have 2 lakh global users and are confident that we will be able to tenfold our business in the next 18-24 months.”
Remarking on their investment, Atim Kabra, the Lead Investor said, “We are very excited to be partnering with ClassMonitor in their journey to build a trusted bond with parents. We share the vision of ClassMonitor, led by its dynamic and visionary founder, Vijeet, to build a network of smart offerings targeted at young children, that enable the parents to spend quality time with their child in a non digital environment”.