Edtech Startup Avishkaar Raises Rs 5 Cr In Pre-series A Funding Round From Auxano, Mumbai Angels, Others

Launched in 2014 by Tarun Bhalla, Pooja Goyal, and Rajeev Gaba, Avishkaar is an education firm focused on the development of children through its hardware and software products such as DIY kits and learning programs for STEAM education.

The edtech firm offers teaching and training in coding, robotics, Artificial Intelligence (AI), the Internet of Things (IoT), 3D printing, among others, to children in the 5-15 age group. It offers various products which include DIY robotics kit, Avishkaar maker board, Avishkaar 3D printer, and more. It also provides various programs that include the coders club, mechanical modeling club, programmers club, and tinkerers club.

On Tuesday, the startup said it has raised a pre-series A round funding worth Rs. 50 million. Venture capital firms Auxano and Mumbai Angels, Alok Mittal, the co-founder of Indifi Technologies, and Varun Aggarwal, co-founder, Aspiring Minds, participated as angel investors in the funding round.

The startup plans to utilize the fresh Rs. 50 million funding for product development, marketing, hiring talent, and user base expansion across Tier I and Tier-II cities. Earlier, in February 2018, the startup had managed to raise Rs. 5 crore in seed funding from Auxano.

As per the reports by one of the co-founders, Pooja Goyal, the Avishkaar was initially working with over 1500 schools in the pre-COVID period and had grown its user base to over 1,00,000 children. Due to the pandemic situation, the focus was shifted to a direct-to-consumer (D2C) model through its existing school network and e-commerce channels.

The firm also supports the setting up of Atal Tinkering Labs of NITI Aayog in schools for encouraging and promoting innovation.

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