Indian EdTech Startup Cuemath to Raise $5.5 Million from Manta Ray, Capital G, Sequoia
2019-12-10 10:51:18

Indian EdTech startup Cuemath is looking to raise $5.5 million (Rs 39 crore) in its extended Series B funding round led by Manta Ray Ventures Limited along with existing investors Capital G and Sequoia India, according to Deal Street Asia.

Founded in 2013, Bengaluru-based Cuemath provides after-school math classes for students from lower kindergarten to standard 10 by using physical worksheets, quiz cards, along with other tablet-based content developed by itself.

Cuemath plans to use the funding towards capital expenditure and/or operating expenses in line with the business plan.

The startup claims to have over 2500+ centres teaching more than 20,000 students across 80+ cities in India.

The deal is expected to close this month. The company had raised $15 million in a Series B funding round in 2017.