Ed tech platform Kyt has raised Rs 36.5 crore in funding led by Alpha Wave Incubation (AWI), a venture fund managed by Falcon Edge Capital.
“The funds raised will be used for deeper investment in technology and product, to enhance the overall experience of the students and to accelerate global expansion. Kyt already has students from India, UAE and Singapore and is looking to scale its footprint to the US, Canada, UK and Australia,” it added.
As part of this investment from AWI, Kyt will expand its operations to Abu Dhabi and use the Emirate as its regional headquarters for targeting the Gulf Cooperation Council (GCC), Middle East and North Africa (MENA) and other global markets, the statement said.
Kyt is also working on building a team of data scientists, product managers and engineers located in Abu Dhabi.
Founded in June 2020, Kyt runs online-only extracurricular courses by combining live classes with video-based revision materials for children from ages 5-15 years, in a full-stack model. It offers one-on-one and small group sessions for courses such as yoga, dance, music, chess and others.
The company is backed by prominent angel investors including Allen Penn, Kunal Bahl, Rohit Bansal, Amrish Rau, Kunal Shah, Jitendra Gupta, Martin Li, Apremeya Radhakrishna, Anand Chandrasekaran and Akhil Paul.
Kyt plans to add more courses, including speech and debate, spelling bees, guitar and keyboard among others, the statement said.