A co-curricular futuristic learning platform Homi Lab has raised Rs 5 crore in a pre-Series A funding round led by Inflection Point Ventures, a Gurugram-based angel investment firm.
Homi Lab was founded by Srijan Pal Singh, renowned children’s author and former Advisor to the 11th President of India, Dr. A.P.J. Abdul Kalam. The startup offers a co-curricular futuristic learning platform that leverages technology to democratize knowledge for young learners across the globe.
Homi Lab says it brings together a remarkable opportunity for young learners to get acquainted with and be trained for the skills which will shape the future using a mix of subject matter experts, professionals and its well-crafted virtual laboratories.
The startup leadership team has exposure to global methods of education and various global laboratories across streams bringing the art of creating an interactive and engaging learning experience.
Homi Lab will utilize the raised funding for development of the cutting-edge technology platform and high-quality unique content creation. The startup also aims to continue ongoing research on futuristic skills, development cycle involving stakeholders and enabling the backbone which will create top notch content for the young learners.
“Homi Lab is on a continued journey to build a brighter future for humankind by transforming the learning space with our model of training. IPV not only provides us the necessary fuel in our journey in terms of capital, but also in terms of ideas, partnerships and people,” said Srijan Pal Singh.
Homi Lab claims that its students have successfully discovered 71 preliminary asteroids in space using real-time data. Almost one thousand students were trained to take pictures of planet Earth by programming a camera on the International Space Station through Sally Ride EarthKAM Space Camp. It has successfully brought the idea of futuristic learning to almost 40,000 young learners from across the world in the past one year, it said.
“Exposing young minds to futuristic learning programs through technology to enrich their understanding of non-academic but deeply insightful subjects like space, time travel etc., enabling them to charter an unexplored territory is a commendable initiative by Homi Lab,” said Ankur Mittal, Co-founder at Inflection Point Ventures.
“This futuristic platform will help India to nurture young learners right from a nascent age and mold them to be explorers in the field of science and beyond. At the same time the product and content will have creators from all over the world and hence will be relevant to a large global audience. While focused on kids, I personally found some of the content extremely fascinating,” Ankur adds.
According to a report by RBSA Advisor, growth in the Indian Edtech sector will be backed by growing demand as well as strengthening business models, aided by facilitative governmental policy. The New Education Policy, 2020, has also provided policy impetus to the Edtech sector by recognizing the role of technology in education.
Moreover, income inelasticity of education in India is estimated at 0.93 vis-à-vis other expenditure, implying that at any income level, Indians are more inclined to spend on their education.