The funding will strengthen its market position in Andhra Pradesh and Telangana and gear up for pan-India presence. Practically has raised $9 million in total until now the company raised Series A round of $5 million in 2019
Practically, a product of 3rdFlix Visual Effects Pvt Ltd, announced that it has raised $4 Million in a pre-Series B round. The round was led by Siana Capital, a deep tech investor, with participation from existing investors YourNest Venture Capital and Exfinity Ventures. The company had previously raised Series A funding of $5 Million in 2019. The funds will be invested in expanding the operations of Practically.
Practically is an intelligent, interactive and immersive learning app for students of classes 6-12 with a focus on STEM learning. It offers an edge over other learning apps by enhancing conceptual understanding and improving retention of concepts with features like life-like video content, hands-on learning, experiential learning, 24×7 seek help with access to subject experts for doubt resolution, live classes, Proton – the AI assistant and study buddy.
Speaking on the successful funding round, Mr. Subbarao Siddabattula, Founder & CEO, Practically said, “This pre-Series B funding showcases the extreme faith our investors have reposed on Practically. The tremendous response that we are seeing for Practically from schools, administration, faculty, parents and students validates our model. Our progress so far is in-line with our strategic growth plans and we are very well placed to tap the accelerated growth that the EdTech industry is witnessing today.”
Practically is an outcome of deep-rooted insights based on several man-years of study around children’s learning & retention modes leading to the innovative use of new-age tech tools such as AR to provide an immersive learning experience for children.
“The recent round of funding will be utilized strategically to expand the market for Practically beyond Telangana and Andhra Pradesh. Our expansion plan includes establishing a footprint pan-India in the next 12 months. We are also aiming to expand operations in the Middle East and set foot into the US market in the near future,” added Ms. Charu Noheria, Co-Founder & COO, Practically.
The Ministry of Human Resource Development has estimated that India’s EdTech expenditure would reach $10 trillion by 2030. The EdTech sector is seeing significant investments and expenditure by governments, schools, universities, students, and professionals globally.
Source: Business World
