eDreams Edusoft raises two million dollars from Inventus Capital Partners

With 3 years of research in artificial intelligence and education pedagogy behind it, eDreams Edusoft, a leader in the personalized education technology space, is looking to significantly expand its portfolio to newer geographies.

Bangalore, May29th ,2013: With 3 years of research in artificial intelligence and education pedagogy behind it, eDreams Edusoft, a leader in the personalized education technology space, is looking to significantly expand its portfolio to newer geographies. As part of its expansion plans, the company has raised US $ 2m in its second round of funding led by Inventus Capital Partners, with participation by existing investors Mumbai Angels. The company currently offers its flagship product – Funtoot to thousands of students in India and plans to reach to millions of students in next 5 years. Funtoot is an intelligent, adaptive and personalized digital teacher for students in K-12 education. The idea behind the invention is to eliminate the learning deficit in each student due to the homogeneous nature of modern classroom teaching/learning that prevails almost everywhere globally.

Rajeev Pathak, Founder and CEO, eDreams Edusoft said, “It has been a satisfying experience to see thousands of kids benefiting through deep personalized learning being imparted through Funtoot across many cities, towns and villages in India. With the support of existing investors- Mumbai Angels and new partner- Inventus, we aim to make significant and positive impact on millions of students by expanding to new geographies rapidly”.

According to Mr. Rutvik Doshi, Principal at Inventus Capital Partners “Paying deep individual attention and personalized learning to each child is one of the greatest challenges of modern schooling system, Funtootis a significant innovation at solving this challenge. We found in eDreamsEdusoft a team that can deliver great outcome on this front, and build a high-value enterprise.”

According to Mr. Dara K Mehta of Mumbai Angels “We have been associated with eDreams for more than 12 months. Team is focussed on creating learning outcome for every child, and has passionately taken products to different geographies in India, and has demonstrated the success in short period of time.” Mumbai Angels also participated in this round.

With almost 50 percent of the population below 25 years, the education industry is poised as one of the fastest growing sectors in India. With the surge in the adoption of broadband internet and the increased online penetration, digitalization in education is progressing at a very fast pace. eDreams Edusoft crafts a platform combining technology and education that has the potential to raise quality and reduce the education gap.

About eDreams Edusoft

eDreams Edusoft Private Limited is a Bangalore based education technology company. Established in 2010, it is a team of highly experienced individuals. eDreams Edusoft’ products are driven by innovations across technologies such as Artificial Intelligence (AI), Machine Learning, NLP and Speech processing. eDreams Edusoft were the winner of Bloomberg Pitch Award 2011-12, they were finalist at Marico Innovation Award 2012, and the flagship product Funtoot was also selected by Nasscom Social Innovation Foundation among the top 3 finalists for 2013. Currently company has presence across 20 cities and towns of India. Funtoot, observes, asseses, diagnoses, interacts, encourages and teaches each student based on individual characteristics. eDreams Edusoft aims at improving life of every student globally through student-centric disruptive technology innovations. The company has introduced this technology in hybrid cloud computing model and it can be used in schools and homes.

About Inventus Capital Partners

Inventus Capital Partners is a US-India venture firm managed by successful entrepreneurs and industry operating veterans who have backed over 100 entrepreneurs with operations in India and/or Silicon Valley. Inventus backs entrepreneurs first and foremost. The companies financed by Inventus include TELiBrahma, Insta Health, redBus, FundsIndia, Vizury, Sokrati, eTechies, Cbazaar, Savaari, Power2sme and Policybazaar. Inventus is currently investing out of its recently raised Fund-II. More information about Inventus is available at www.inventuscap.com.

About Mumbai Angels

Mumbai Angels, started in 2006 is the premium angel network in India. The Mumbai Angels provides a unique platform to start up and very early stage companies by bringing them face to face with successful entrepreneurs, professionals and executives who are interested in and have the funds available to invest in start-up companies. Many members of Mumbai Angels have prior Silicon Valley experience. In addition to the capital of its members, the Mumbai Angels provides access to high quality mentoring, vast networks in India and abroad and inputs on strategy as well as execution.

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Contact Details

Company Name: PRHUB
Issued By: Deepika
Phone: 91-080-22483007
Address: 18/1, Wellington street, Richmond town
City: Bangalore
State: Karnataka
Zip: 560025
Country: India
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Keywords : Inventus Capital Partners, eDreams Edusoft, two million dollars,

by Deepika (few years ago!)

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