Indian Edtech startup Teachmint raises $20M in Pre-Series B led by Learn Capital

While most Indian edtech startups work on expanding their catalogue with live and recorded educational policies for students, some are starting to take a unique strategy to compete with the South Asian nation’s education industry. Teachmint, a one-year-old startup, is betting on authorising teachers to create virtual classrooms with a few taps on their smartphones.

Bengaluru-based online edtech platform, Teachmint raised $20 million in a Pre-Series B round on 8 July 2021, led by Learn Capital with partaking from CM Ventures. With this latest round of funding, the company has seen a 3x jump in its valuation in just two months.

Company’s Profile

Established by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, IIT Delhi and IIT Bombay alumni with executive experience at Swiggy, McKinsey, Roposo and OYO in 2020, developed solely to help teachers digitise their classrooms, Teachmint is a mobile and video-first teaching platform.

Driven by Learn Capital, Teachmint ventured $16.5 million in Series A investment, which also witnessed CM Ventures, Lightspeed and Better Capital recently in May 2021. Teachmint’s 4th round of fundraise roughly a year from its commencement, making it the fastest EdTech startup in India to raise $40 million.

Significant evidence of the platform’s enormous popularity and widespread adoption by educators across the nation is that Teachmint is now ranked as the #1 top free education app on Google Play Store, said the company. 

Purpose of Investment

The company stated that the fresh endowment of funds would power its proceeding focus on developing live teaching technology and improving its output. The venture will also serve Teachmint’s expansion into more latest markets and the hiring of skilled faculty. 

What the CEO has to say

In an interview, co-founder and chief executive of Teachmint, Mihir Gupta, said, Teachmint’s has now garnered over 1 million teachers from over 5,000 Indian cities, and the usage is rising over 100% each month. In June 2021, over 25 million live classes were viewed on Teachmint. Naturally, investors are paying attention, too”.

“Zoom and Google Meet are excellent services for talking to people. But they are not fundamentally created to solve academic necessities,” said Gupta. By not depending on other tech service providers, Teachmint has also optimised its contributions more aggressively, said Gupta.

Through its fashionable approach, Teachmint declared it could significantly regulate and adjust the interactiveness in these classrooms. Also, having an in-house tech offering benefits the startup spend only a fraction on each class, he added.

“We have formed a new category altogether. Any teacher can download the Teachmint app and create their classroom within minutes. This comfort of digitisation of the classroom didn’t subsist before Teachmint,” he said.

What the Investors has to say

Vinit Sukhija, Partner at Learn Capital, added, “In just 12 months, Teachmint has bloomed from a nascent plan to the #1 ranked education app in India – an unprecedented growth narrative for an Indian edtech business. This industry resonance is a testimonial to the Teachmint team’s ongoing commitment to authentically consolidating teachers’ perspectives into the startup’s ever-expanding set of market-pioneering digital education tools.”

“Having to be partner-ed with Teachmint a few months ago, Learn Capital is excited to now augment its partnership at this critical position in the company’s position as it prepares for exciting fresh international product expansion,” added Vinit.

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