Gurgaon: SplashLearn, an ed-tech firm formerly known as Splash Math, on Tuesday, said it has raised $18 million (Rs 131 crore) as part of its Series C funding round.
The funding was led by San Francisco-based venture capital firm Owl Ventures, which has backed Indian ed-tech unicorn Byju’s, said SplashLearn in a statement. Existing investor Accel also participated in this round, it added.
SplashLearn is operated by US-based Studypad Inc. Studypad India Pvt Ltd is the local subsidiary and its over 225 employees are in the country.
The startup was launched in 2011 by Indian Institute of Technology (IIT) graduates Arpit Jain, Joy Deep Nath, Mayank Jain, and Umang Jain.
The fresh capital will primarily be used for growth and scaling a new vertical — tutoring — said Arpit Jain, CEO, and co-founder of SplashLearn.
The company started by helping children master basic math using animation, graphics, and games. In the latter part of last year, it went beyond the math program to include reading and launched a personalized tutoring product.