The Edtech platform Yellow Class, has raised $6 million in a series A round of funding led by Elevation Capital. There were participation from other existing investors such as India Quotient, Titan Capital and First Cheque.
Investors like Vidit Aatrey (Co-founder, Meesho), Alok Mittal (Founder, Indifi), Vivekananda Hallekere (Co-founder, Bounce), Maninder Gulati (Global CSO, OYO) Abhinav Sinha (COO, OYO), Dhruv Agarwala (CEO, PropTiger) and Alvin Tse (Country Director, Xiaomi Indonesia ) were also part of the deal.
The funds are expected to be utilized by the company for improving product experience, building brand awareness, developing more holistic content, hiring for leadership roles across the product, technology and engineering verticals, and driving expansion in over 500 cities in India and international markets.
Also read: EdTech company BlueLearn raises Rs 3.25 crore ($450,000) funding from investors
In November 2020, the company had raised $1.5 Mn in a seed round led by India Quotient.
The company’s higher officials said in a statement, “In the last 10 years, there has been an exponential rise in the time spent by children passively consuming online content—which is extremely harmful to their growth. Studies have shown that more than 100 million Indian kids below 13 years of age spend an average of 100 hours per month on YouTube and other similar platforms.”
“Parents are actively looking for better, interactive alternatives that would be beneficial for their child’s cognitive growth. With Yellow Class, we are creating a new category in the ed-tech space. Easy to access, fun, interactive classes that kids love. Now children can spend their time in active learning and hone new skills. We aim to serve 10 million monthly active users on YellowClass platform in a year from now. We are actively looking for top talent who can lead the growth of YellowClass to serve this large market,” the officials added.
Commenting on the funding, Deepak Gaur, Partner, Elevation Capital, said, “Given the increasing importance of holistic development, extracurricular learning represents one of the fastest growing sectors in ed-tech.”
“Yellow Class offers the widest range of extracurricular activities for children through live-streamed classes with a gamified AI layer that builds interactivity and engagement,” Gaur added.
