Indian game-based edtech startup Supernova raises $1.1 million in a pre-seed funding round
2022-10-15 14:48:56

Supernova, an India-based international online science teaching platform aimed for the children in GCC announced recently that it had raised $1.1 million in a pre-seed funding round led by Lumikai, India's first gaming & interactive entertainment venture fund. 

Kae Capital, All In Capital, Goodwater Capital and prominent angel investors including Nandan Reddy and Phani Kishan - founders of Swiggy; Nitin Gupta - founder of PayU and Uni; Prashan Aggarwal - ex-CEO of Gaana; and Tanay Tayal - founder of Moonfrog labs also participated in this round.

According to the startup, the fresh capital will be used to further develop the product to incorporate multiplayer formats, strengthen its leadership team and deploy strategies that will amplify product lead user acquisition over the next 18 months.

Founded by Anirudh, Nawin and Maharishi in 2021, Supernova focuses on redefining the current passive forms of learning by making learning more engaging and fun. The startup aims to cover subjects through interactive 30-minute sessions and offers multimedia assistance, virtual lab, video lectures, demonstrations, and even live quizzes to kids aged 4-12. It also provides continuous evaluation and frequent feedback to parents, extra classes for slow learners, as well as career guidance and counselling classes.

Business Insider India shows that the online education market, which includes K12, higher education and lifelong learning or upskilling in India is presently worth around $1.9 billion.
”Traditional edtech models characterized by high customer acquisition costs, prohibitively expensive courses, and poor learning outcomes are unsustainable,” Sunitha Viswanathan, Partner, Kae Capital said.

The funding comes at a time when Indian startups funding has hit a two-year low at $2.7 billion in Q3, according to PwC report Startup Deals Tracker-Q3 CY22. However, PwC states “funding in the Indian edtech segment has shown a positive trend in Q3 CY22 compared to the previous quarter (in value terms).”

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