Indian math learning platform Bhanzu raises $15 Mn in Series A funding round to expand global market

Bhanzu, a Hyderabad-based math learning platform for students between the age of 6-16 years, announced on Wednesday that it has raised $15 million in a Series A round of financing led by Eight Roads Ventures, with the participation also from B Capital and existing investor Lightspeed. 

This would be the second investment round for the startup in the past seven months. Earlier this year, Bhanzu has raised $2 million seed funding from Lightspeed and a host of angel investors such as Nitin Gupta, Gaurav Munjal,  Kunal Shah, Maninder Gulati and Biswa Kalyan Rath.

According to Bhanzu, the fresh capital will be used to to expand its business globally across multiple geographies, enhance its tech infrastructure, increase its workforce, and strengthen curriculum with more interesting and outcome-focused content. 

To date, the platform has trained over 30,000 students through its bouquet of courses. Bhanzu claims to have over 400 people on its rolls and said that the company will recruit across different verticals.

 Founded in 2020 by Neelakantha Bhanu Prakash who holds four world records for being the Fastest Human Calculator in the World, Bhanzu provides learning programs in mathematics and its curriculum is personally curated by Bhanu based on the data and research he conducted over the last four years across the world.

As per Fintrackr’s estimates, the startup has been valued at around $105 million (post allotment). Importantly, Bhanzu’s valuation shot up over 10X as it was valued at around $10 million in its seed round.

As of now, Bhanzu has raised $17 million including a $2 million in its maiden funding round from Lightspeed and a host of angel investors such as Nitin Gupta, Gaurav Munjal,  Kunal Shah, Maninder Gulati and Biswa Kalyan Rath.

According to its annual financial statement with the RoC, the company posted operating revenue of Rs 5.5 lakh and churned Rs 1.1 lakh in profit.

Bhanzu becomes the second niche math learning platform after Cuemath to raise a large round this year. In June, Cuemath, which counts Sequoia Capital, Google's parent Alphabet, among others as its backers raised $57 million at double the valuation.