Freadom, an Indian Edtech startup, has raised USD 2.5 million in a fresh funding round led by Capital A and other angel investors including Tiger Shroff on 12 January 2022.
Investors: The latest funding round was led by Capital A and other angel investors such as Tiger Shroff, Ashneer Grover, Founder, BharatPe, Lalit Agarwal, Founder, VMart Retail, and Aakash Moondhra, global CFO, PayU, among others. In addition, existing investors, including Unreasonable Capital, Quantiphi founding team, and Singapore Angels group, also contributed to the round.
The Objectives behind the funding: The company plans to deploy the current proceeds to invest in product, distribution and further strengthen Freadom’s vertical presence across stakeholders for English as a second language.
Founded in 2008 by Kavish Gadia, Nikhil Saraf and Jagruti Gala, Freadom is a Stones2Milestones initiative. The Freadom App went live in 2016. It is India’s first comprehensive learning platform for children aged 3-12 to strengthen their English reading, speaking and conversation skills. The company claims that its content and teaching methodology have led to a 30% improvement in the academic performance of hundreds of primary schoolers and boosted their confidence.
The company’s platform integrates its program with the early school curriculum. It allows teachers to prepare for sessions and also monitor and track their own as well as children’s learning outcomes, thus enabling students and schools to increase productivity in learning and teaching. The team claims to be on track to reach 10 million readers. In addition, the company aims to reach 50 million users worldwide by 2023.
What the Founder has to say:
“Learning a language like English should be fun and engaging, and we prioritize this at Freadom. The success of Freadom lies at the intersection of our innovative pedagogical approach and advanced AI technology that makes language learning accessible for every child between the ages of three and 12. The goal is to create impact at scale and prioritize long-term learning outcomes over short-term gains,” Nikhil Saraf, Founder, Freadom, said.
What the Investor has to say:
While Capital A has been backing startups in different sectors, this investment in the edtech domain is its first one, as stated by Ankit Kedia, VC and CEO, Capital A. “Freadom has been focused on solving for age and learning outcomes with the deepest impact and hence effectively capturing maximum value. Having solved for distribution without spending on digital marketing, it is a definite edge for them in India to retain their pole position,” Kedia said.
For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.
We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!