Ahmedabad-based edtech startup Orphicy that offers education modules, today said it has raised Rs 2.5 crore (approx $331K) in a funding round at a valuation of Rs 25 crore. The round was led by NRI tech enthusiasts presently working in leadership positions at Facebook, McKinsey.
Reputed education company IMS Learning Resources Pvt. Ltd. also picked up a 1% stake in the company, the statement said.
Orphicy was started with an initial fund of Rs 2 crore pooled by the founders. It was a bootstrapped startup incorporated on 28th September 2020 and the vast experience of its founders in the realm of education has helped the company to raise funds in less than a year of its incorporation.
The startup offers education modules empowered using visualization methods, live interactions, analytics, and psychometric analysis to achieve the desired results. It also provides dedicated career guidance to each student.
With this round of funding, Orphicy will focus on strengthening its marketing initiatives, adding innovative technology-enabled interfaces, and include newer modules to the curriculum.
“Apart from providing live online coaching for school curriculum (Classes 5-10) the start-up also helps students prepare for NTSE/ Olympiads and other competitive exams. Our modules are designed with a holistic approach focusing on extracurricular activities along with academics,” said Vipul Tyagi, CEO of Orhpicy.
He further said that the first round of funding will be strategically used to strengthen the brand, introduce innovative learning modules, and make learning interactive and engaging.
Additionally, the startup will also be focusing on expanding its team and hiring young to senior-level talent to build a resilient and trusted brand that makes education engaging and empowering.
Orphicy in a statement said that their unique Flipped Learning Approach makes them apart from other edtech startups.
1. PREPARE – pre-lecture capsules to stimulate interest in a topic
2. PROCESS – continuous improvement in exam readiness index
3. PARTICIPATE – superior learning with hands-on activities and active discussions
The EdTech startup is of the firm opinion that pre-recorded content is not the ideal solution for the young curious minds and thus offers its courses via its app in the form of live online classes. It believes that planned teacher intervention and highly engaging lectures are the pillars for online education to show positive learning outcomes.
The startup aims to connect with the vast student community across the country and help them gain a competitive edge with its pocket-friendly courses.