Bengaluru-based early childhood education startup Kreedo has successfully raised $4 million (INR 33 crore) in a Series A funding round. The round was co-led by Heritas Capital and UBS Optimus Foundation, with participation from existing investors, including Gray Matters Capital, 1Crowd, The Chennai Angels, and The Joka Angel Network, among others.
Kreedo plans to leverage the fresh capital to enhance its product offerings and expand its reach to new geographies across India. The startup has set ambitious goals to bring its innovative education programs to over 7,000 schools across multiple cities.
“With the current round, we will take Kreedo to more geographies in India. With incoming demand from our school partners, we also plan to extend our product offerings moving upwards to Grades 3-5 and enhance Practico, our digital home learning platform,” said Mridula Shridhar, co-founder of Kreedo.
Kreedo’s growth trajectory has been impressive over the past two years. The startup claims to have doubled its revenue, expanded its reach to 1,700 schools and preschools, and increased the number of children benefiting from its programs from 55,000 to more than 140,000.
Also Read: Education Ministry Unveils New Standards for Literacy and Full Literacy
The successful funding round comes at a time when the Indian edtech sector is facing a challenging environment. Following a surge in investment during the height of the COVID-19 pandemic, the industry has witnessed a significant decline in investor interest as schools and colleges reopened. The sector has also been plagued by issues such as heavy cash burn, mounting losses, and governance challenges, leading to layoffs and the shutdown of several startups.
Despite these challenges, the Indian edtech market remains a significant growth opportunity, with an estimated potential to reach $29 billion by 2030, according to a report by Inc42. Kreedo’s recent funding success indicates that investors still see value in innovative and sustainable models within the sector, particularly those focused on foundational education.
