AI-based edtech platform SpeEdlabs has raised Rs 14.31 crore in a pre-Series A funding round led by Mumbai Angels, with participation from LetsVenture, Ecosystem Ventures, and SucSeed Ventures. According to the statement, the startup will infuse the raised capital towards expanding its presence and bolstering its infrastructure.
SpeEdLabs says it uses data-driven hyper-personalization, dynamic adaptive learning, algo-driven automated content management, and analytical data visualization to help students achieve their potential.
“As the world gradually moves toward a hybrid model of education, it’s high time children/students receive education personalized as per their requirements. Pure Online Tutoring was a forced-choice during Covid lockdown, but now the Offline classroom model using technology will be the successful hybrid model,” said Vivek Varshney, Founder of SpeEdLabs.
Having scaled 10x in 18 months in product revenues and a funnel of 3000+ clients, SpeEdLabs said it will cross Rs 1.5 crore per month by June 2022.
Currently, The platform gets over 2m+ questions, recommended by SpeEdLabs Question recommendation engine, practiced on its platform monthly, which provide more than 10m+ analytical data points per month.
Multiple algos use this data to provide recommended and curated content to both the teachers and the students so that learning outcomes are optimized.
As compared to online lecturing / recorded lectures and LMS based applications, the SpeEdLabs platform offers a comprehensive platform with tools for adaptive revision, practice, test and video content which complement the offline lectures to complete the hybrid pedagogy for unorganized tutoring market
Speaking on the investment, Nandini Mansinghka, Co-Founder & CEO of Mumbai Angels said, “The advent of AI enabled Platform-as-a-Services solutions have been revolutionizing the hitherto unorganized after school tuition market. There is a tremendous demand for the non-generic mode of learning given the one size fits all education system prevalent in India today. We are confident that the unique tech driven learning solutions will continue to enrich students’ learnings and fuel future demand for personalized coaching.”