Edtech Startup Winuall Raises Second Round of Funding for Scaling up the Business
Bengaluru based ed-tech startup Winuall announced today that it has raised a second round of funding to an undisclosed amount. This funding round was led by Ramakant Sharma, Co-Founder of Livspace; and Amit Lakhotia, Co-Founder of Park+, ex-VP PayTM Business. Other Investors include Akash Gehani (Cofounder, Instamojo), Abhinav Patwa (VP, Onsitego), and existing investors Ankit Bhati (Cofounder, Ola) and Nitin Gupta (Head of Engineering, Milkbasket).
With this new funding, Winuall plan to bring to more than 100,000 tutors & coaching classes under their ambit whose earning potentials have been badly hit due to pandemic. During the last few months, the Winuall team is helping thousands of solo tutors and coaching to go online to teach live and sell courses on the app. The company has achieved 10X growth with 70% month on month growth in both revenues and transactions achieving profitability overall.
In the words of Ramakant Sharma, Co-Founder, Livspace, who lead this round of funding, said, "Online education is not new in the year 2020. Talking just about India, the market value of education is more than $100 billion, and it is expected to see a rise of double in under a decade. Hence, it is time for the tutors to come up on the web and explore the opportunities."
According to Ashwini Purohit, Founder of Winuall, "Our SaaS business is already on the fast growth and profitability path. We aim to empower more than 100,000 tutors in the next 2-3 months to become the Shopify for tutors."
He further added that we will continue to scale SaaS business and explore other levels of growth, such as providing tutors with an e-commerce store and financial aids.