Uolo, a startup which offers an end-to-end learning and administration ystem for new age schools has raised $22.5 Mn in Series A funding round led by UAE-based VC fund Winter Capital.
The startup claims to be helping over 2 million students across 8000+ schools, learn better. The company’s goal is to connect all K-12 students with the people and resources they need to reach their full potential.
Founded in 2013 by Pallav Pandey, Ankur Pandey and Siddharth P. Singh, Uolo offers learning programs in coding and English speaking. According the startup, both of these courses are aligned with partner school’s curriculum.
Uolo stated it partners with private schools and helps them develop online capabilities. This includes creating phygital programs matching school curriculums. It also allows third-party education publishers and content creators to develop physical learning programs for K-12 students.
“The first wave of edtech companies in India have proven consumer interest in online education. However, they lacked a cost-effective distribution. We believe that there will be a new generation of edtech companies capable of building organic, low-cost distribution, allowing students to study at $10 per year rather than $10 per hour,” said Anton Farlenkov, managing director of Winter Capital.
“The edtech solutions need to build on top of 6 hours spent in school daily and magnify the outcomes by leveraging the smartphones available at home. The lack of alignment with school, together with exorbitant pricing is causing edtech companies to falter”, said Pallav Pandey, CEO of Uolo.
Uolo partners with over 8000 schools
The startup Uolo claims to have partnered with schools across India and plans to introduce more programs across STEAM subjects in the next few months.
Existing investor Blume Ventures and Dubai-based fund Morphosis Venture Capital also have participated in the funding round.
The funding round has come after a gap of two years when Uolo raised $3 Mn (INR 20 Cr) in a Pre-Series A funding round led by Blume Ventures and Omidyar Network India.
After seeing immense growth during the pandemic years, the edtech sector has now lost its sheen. Market downtrend, opening of schools and colleges, low investor sentiments and global disruption are some of the factors that have hampered the growth of this segment.
