IAN boost for edutech firm! Indian Angel Network invests Rs 3.5 cr in startup ConceptOwl - All details here
Founded in 2016 by Rajan Singh, an IITian turned Police Commissioner turned entrepreneur, ConceptOwl is dedicated to delivering teacher-less online-in-classroom Science and Mathematics coaching to school students in Tier-2 and Tier-3 cities at affordable prices.
Indian Angel Network (IAN), a horizontal seed stage platform in India, has invested Rs 3.5 crore in edutech startup ConceptOwl. According to an official statement, "The Trivandrum-based startup will utilise the capital infusion to enhance and diversify its offerings, as well as to bolster its sales and marketing operations." The round was led by prominent investors KRS Jamwal, Ankit Somani and Mitesh Shah with Ankit Somani joining the company board to further help the startup scale.
Founded in 2016 by Rajan Singh, an IITian turned Police Commissioner turned entrepreneur, ConceptOwl is dedicated to delivering teacher-less online-in-classroom Science and Mathematics coaching to school students in Tier-2 and Tier-3 cities at affordable prices. "ConceptOwl is targeting hyper-growth in a market that is estimated to be worth Rs 20,000 crore. It is the recognition of this disruptive potential which led IAN to invest in the start-up," as per an official statement.
Speaking on the investment, Ankit Somani, Lead Investor, IAN, said, “On one hand, there are multiple coaching centres in India that follow the traditional in-classroom style of teaching. On the other hand, there are edtech teaching platforms that impart self-paced learning entirely through the digital medium. ConceptOwl combines the best of both worlds. It is this innovative model which assures us of the merit of our investment. We eagerly look forward to helping this high-potential start-up to transform the Indian coaching landscape for the better.”
Rajan Singh, Founder and CEO, ConceptOwl, said, “Although online courses do exist, students mostly find learning in a classroom setting more comfortable. It is understandable as it is difficult to not get distracted by other functions of a digital device at such a tender age. On the other hand, due to the absence of good quality tuitions and coaching services in Tier-2 and Tier-3 cities in the country, most of the high-potential students end up falling short of receiving the kind of education they deserve. It is here that ConceptOwl steps into the picture. We deliver quality education to students through a team of trained instructors and a vault of engaging video content at extremely affordable prices.”
“We are thankful for the support we have received from IAN. We will utilize the investment to further bolster the quality of our current offerings while bringing more vernacular languages into the scope of our services, and to boost our marketing and sales,” he added.