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Economic Times
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Epiq Capital leads $16.5 million funding round in edtech startup Bhanzu
- Bhanzu, an Indian math edtech start-up has raised $16.5m in a funding round led by VC firm Epiq Capital with participation from existing investors Lightspeed Ventures and Eight Roads.
- Bhanzu plans to expand its presence in the US as it has found a product-market fit there while also investing in generative artificial intelligence.
- The Hyderabad-based start-up's unique selling point is a math curriculum with online courses for students ranging from kindergarten to Grade 9.
- The firm claims to have grown eightfold since its 2022 funding round, achieving positive cash flow and good traction in India, US, UK and the Middle East.
- India and the US make up a third each of the start-up's revenue with the rest coming from other markets worldwide.
- Founded in 2020, the start-up aims to achieve revenues of INR1-$02 billion ($13.5m-$16m) this financial year.
- The latest investment round brings the amount raised by Bhanzu to $33.5m.
- Edtech firms PhysicsWallah, Eruditus and UpGrad have also recently secured fresh capital.
- Epiq Capital's Chinmay Katdare commented, "Bhanzu has evolved into a global math education platform. This investment fits into our thesis of outcome-driven education where the strength of the product drives growth".
- Z3Partners' Rishi Maheshwari added, "We believe the company is currently at an inflection point to turbocharge growth in a profitable and sustainable manner".
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