The round saw participation from NRI tech enthusiasts presently working in leadership positions at Facebook, McKinsey.
Ahmedabad-based EdTech startup Orphicy successfully obtained 1st round of funding. It has raised 2.5 Crores at a valuation of Rs. 25 Crores. The round saw participation from NRI tech enthusiasts presently working in leadership positions at Facebook, McKinsey. Reputed education company IMS Learning Resources Pvt. Ltd. also picked up a 1 percent stake in the company.
Orphicy was started with an initial fund of Rs.2 crores pooled by the founders. It was a bootstrapped company incorporated on 28th September 2020 and the vast experience of its founders in the realm of education has helped the company to raise funds in less than a year of its incorporation.
The first round of funding will be utilised to strengthen their marketing initiatives, adding innovative technology-enabled interfaces and include newer modules to the curriculum.
“Apart from providing live online coaching for school curriculum (Classes 5-10) the start-up also helps students prepare for NTSE/ Olympiads and other competitive exams. Our modules are designed with a holistic approach focusing on extracurricular activities along with academics. The first round of funding will be strategically used to strengthen the brand, introduce innovative learning modules and make learning interactive and engaging,” shared Vipul Tyagi, CEO, Orphicy.
The start-up will also be expanding its team and will be hiring young to senior-level talent to build a resilient and trusted brand that makes education engaging and empowering.
The EdTech startup is of the firm opinion that pre-recorded content is not the ideal solution for the young curious minds and thus offers its courses via its app in the form of live online classes. They believe that planned teacher intervention and highly engaging lectures are the pillars for online education to show positive learning outcomes.
The startup aims to connect with the vast student community across the country and help them gain a competitive edge with its pocket-friendly courses.
Source: Business World