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Udayy raises $2.5M in seed funding

Gurugram: Skorion Technologies Pvt Ltd, which operates learning platform Udayy, has raised $2.5 million (Rs 18.3 crore) in seed funding.

The round in Gurugram-based Udayy has been led by Falcon Edge Capital-managed Alpha Wave Incubation and Info Edge Ventures, the investment arm of Info Edge (India) Ltd, which owns and operates portals including job site Naukri.

Udayy was set up by Saumya Yadav, Mahak Garg, and Karan Varshney, who are alumni of institutions including IIT-Delhi and Stanford University.

The company says its platform teaches mathematics and English to children between the ages of 6 and 11 through live classroom sessions.

It will use the capital raised in this seed round to focus on its next growth phase, including investments in curriculum development and expansion of the product suite.

Udayy says its platform is currently used by children from across 45 cities in the country, and that it runs more than 400 classrooms on a daily basis.

It also claims that its model has led to retention rates of over 97%. Prior to this seed round, the company says it raised angel funding in June 2019.

Source
VCCiRCLE

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