With this infusion of capital, the company plans to strengthen its technology, consumer base, and increase footprint.
Mumbai, January 12, 2021- Mumbai based Edtech startup, PurpleTutor has raised a seed round of funding led by IvyCap Ventures. The round saw participation from other investors including Krishna Kumar (Founder & CEO –Simplilearn).
Founded in 2019 by IIT Bombay graduates Gaurav Perti and Yatish Gupta, PurpleTutor offers live, online classes to kids aged 6 -16 yrs on computational thinking. The company has its own curriculum and is building technology to arm its teachers to ensure classes are highly personalized and customized. Since inception, the startup has over 30,000 registered users and is already at an annualized revenue of nearly $0.5 mn and is growing 50% monthly.
Commenting on the fundraising, Gaurav Perti, Founder and CEO, PurpleTutor, said, “We really wanted to build an outstanding product from the start and ensured our product, curriculum, and teacher quality were up there. Our Net-Promotor-Score of 74 is a testament to that fact. We’re focused on building technology to ensure that our teaching quality is superior and offer a great experience for students. Our recent fundraising will go towards expansion and building technology”
Lauding the company’s mission and expressing excitement on the association with PurpleTutor Vikram Gupta, Founder & Managing Partner, IvyCap Ventures, said, “Keeping in view with India’s vision for Digital India, a child’s inherent curiosity and promptness to adopt new technologies must be tapped in every possible way. Thus, as an investor, it gives me immense pleasure to associate with PurpleTutor that has excellent potential to bring forth cutting-edge courses for making every child future-ready.”
Source: Business World