PurpleTutor, which focuses on AI-based live classes, has recently raised Rs 10 crores (out of which Rs 3 crore was raised earlier) in its Series A round. The round saw participation from Disruptors Capital, IvyCap Ventures, Mr. Arjun Malhotra, Co-founder, HCL, and others.
This round will help the company build its product offering and strengthen the A.I. product. The company has earlier raised 300k in its seed round in January last year. The company has raised a total of $1.6 million of funding.
Gaurav Perti, CEO, PurpleTutor said, “Our AI (Artificial Intelligence) in live classes is a very unique product, and it helps to personalize classes at the same time helping teachers. The current fund raise will help us strengthen our technology and product teams, and build on our A.I. product even further and expand product lines”.
The company recorded a 4.5X jump in revenue in FY21 compared to the last fiscal year. Its overall revenue for FY 21 stood at ₹10.41 cr. While building the AI product the company has grown in revenue too. Currently, PurpleTutor focuses on AI-driven live classes across computational thinking subjects such as app development, game design, 3D game design, Artificial Intelligence (AI), machine learning, etc.
Personalisation of the learner’s journey is one of the major goals of AI in classes. This allows every child to carve out their own unique individual learning path, completely breaking the one-size-fits all classroom approach. “Our immediate goal is to enhance the A.I. offering given the success we’ve had on all soft & hard metrics on using our A.I. product. We are also looking to launch other subjects since the A.I. product we’ve developed is subject agnostic”, said Gaurav.
Vikram Gupta, Founder and Managing Partner, IvyCap Ventures added, “As an investor, we are happy to strengthen our association with PurpleTutor which dates back to January 2021. Their potential to bring advanced courses to every child is unbound. I believe what sets PurpleTutor apart is its smart and unique ways of using Artificial intelligence. In addition to enhancing the learning experience of a child, they bring benefits for the teachers as well. They do not replace well-qualified teachers but enable them with a tool that enhances their teaching experience”.
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“We’ve been impressed with PurpleTutor’s ability to personalise a learner’s journey. Most recently the internal results from their homegrown AI for teaching product, promise a big step forward towards personalisation in edtech and enhancing learning outcomes for students. We are glad to be part of their journey, as they embark on this next stage of innovation in edtech”. We are really looking forward to the next chapter in our association said Raj Juneja, Managing Partner & CIO, Disruptors Capital.
