Supernova, an Indian edtech firm, announced a USD 1.1 million pre-seed investment round headed by Lumikai, an Indian gaming, and interactive media venture investor.
Other investors in the round included Kae Capital, All In Capital, Goodwater Capital, and famous angel investors such as Swiggy founders Nandan Reddy and Phani Kishan, PayU and Uni founder Nitin Gupta, Prashan Aggarwal, ex-CEO of Gaana, and Moonfrog laboratories founder Tanay Tayal.
According to the PwC report Startup Deals Tracker-Q3 CY22, Indian startup funding has reached a two-year low of USD 2.7 billion in Q3.
According to PwC, “investment in the Indian edtech market has shown a positive trend in Q3 CY22 as compared to the preceding quarter (in value terms).”
Anirudh, Nawin, and Maharishi founded Supernova in 2021. The edtech startup wants to rethink current passive learning modes by making learning more engaging and exciting for children aged 4 to 12.
Supernova creates live quizzes in interactive gaming forms on several CBSE subjects for students in grades 1 through 8. Supernova provides access to live tests, “Byte-Sized” courses, and worksheets on CBSE topics.
“Because today’s children were born into a world of smartphones and highly engaging digital activities, they expect the same levels of engagement from their learning experiences.” As a result, education is seeing a generational transition towards user-centricity, according to Maharishi RB, co-founder of Supernova.
Their live quizzes seek to cover topics in 30-minute interactive sessions.
In India, the online education industry, which encompasses K12, higher education, and lifelong learning or upskilling, is currently valued at around USD 1.9 billion.
Justin Shriram Keeling, founding general partner, Lumikai Fund, stated:
“We believe that gaming best practices and systems of play have the potential to unleash significant upheaval in edtech. With a revolutionary platform that re-imagines kids’ education by using the power of experiential, game-based “learning by doing,” Supernova is taking a first-principles approach to a large market.”
Supernova will use the funds to further develop and grow the product to include multiplayer forms, enhance its leadership team, and implement methods to increase product lead user acquisition over the next 18 months.
“Traditional edtech models are unsustainable,” claimed Sunitha Viswanathan, Partner at Kae Capital, citing high client acquisition costs, excessively costly courses, and poor learning outcomes.
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