Edtech startup Genius Corner has raised INR 2 crores in an angel funding round from Ranbir Singh, Lakshmikantan Sundereswaran and Mahesh Mohta. Several other investors also participated in the funding round including Puneet Garg and Dipak Varshney.
The Noida-based startup will use the funds to implement machine learning algorithms, boost its product development strategies and grow its presence across multiple cities in India.
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Founded by Vishal Khatter, an IIM alumnus, Samrat Chauhan, an IIT Kharagpur graduate and Dheeraj Khatter, an NIT alumnus in 2014, the startup aims at providing personalized learning experiences for students using artificial intelligence and machine learning.
The edtech firm works with a number of educational institutions including schools and universities across India helping more than 50,000 students. Some of the schools working with Genius Corner are SRS International School, G.D Goenka School, Springdales School, and Montfort.
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Commenting on the fundraising, Vishal Khattar, co-founder of Genius Corner, said,“ This funding is a significant milestone in allowing us to expand the business, strengthen development and create value in the market with the new feature. Our focus will always be to assure our students to get the highest quality, along with reliability & accountability. We will be utilising the funding to implement the Machine Learning and grow Genius corner footprints at PAN India level.”
Talking about the investment, Mr Dipak Varshney said, “Artificial Intelligence-based personalized learning will bring wonderful benefits to the Students and educational institute. We need to revolutionise the way our nation approaches education and Genies Corner provides that strongly integrated experience with their core intent being on skill development and learning. I firmly believe that this product is uniquely positioned to make a powerful change in learning outcomes, in India and globally.”
IBEF reports say that the education sector in the country is expected to reach $101 billion by 2019 which currently stands at $91 billion. A significant growth opportunity is on the way in the sector. Several startups like Unacademy, Toppr, Simplilearn and Vedantu are leveraging the potential.