Kyt raises $5 million Series A funding

Bengaluru: Kyt Technologies Pvt Ltd, which operates a platform focussed on extracurricular learning for children, has raised $5 million (Rs 36 crore).

The round in the Bengaluru-based company has been led by Alpha Wave Incubation, a $300 million single-LP venture fund anchored by Abu Dhabi’s ADQ and managed by Falcon Edge Capital.

Other participants in this round include Sequoia Capital India’s Surge, January Capital, Titan Capital, and angel investors, Kyt said in a statement. The development also marks Singapore-based January Capital’s first bet on an Indian company.

Kyt was set up in June last year by Bhavik Rathod and Tripti Ahuja. Rathod was a founding leader for Uber India and the head of Uber Eats in India and South Asia. Ahuja has spent 10 years designing customer experiences for top companies globally.

The firm will use the capital it has raised to improve its technological and product infrastructure, as well as enhance experiences for students. As part of this fundraiser, it will also build out a team of data scientists and product managers in Abu Dhabi.