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● Among the investors are Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China
● The company raised US $9,000,000 in 2021, US$ 3,000,000 in 2022 and an additional US$ 250,000 in 2023
Bengaluru, 29th August 2024: ODA Class, a Bengaluru-based Edtech startup, has announced the completion of its series B funding round by securing US$ 500,000. The latest investment underscores the company’s commitment to revolutionizing education through innovative technology. The company is supported by investors who believe in its mission, including Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China.
Over the past few years, ODA Class has consistently attracted significant investments. In 2021, the company raised US$9,000,000, followed by US$3,000,000 in 2022 and an additional US$250,000 in 2023. Following the latest round of funding, the total funding raised by ODA Class is now US$12,750,000.
The newly secured funds will be strategically allocated to several key areas to maximize impact, like digital marketing, which will enhance the company’s brand visibility and reach a broader audience. The company will introduce AI-driven features within its app to personalize and improve the learning experience.
Finance Head of ODA Class, CA Neeraj Kumar, said, “The latest round of funding showcases that we are headed in the right direction with our plans to transform the Edtech sector. The trust of investors in our vision has led us to continue expanding ODA Class and turn our plans into reality. With the latest funding, we are well-positioned to enhance our technological capabilities and expand our product offerings. Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country.”
It has also demonstrated strong revenue growth over the past few years. The company reported revenues of ₹26.90 crore for FY 2021-22, which grew to ₹63.76 crore in FY 2022-23 and further increased to ₹65.81 crore in FY 2023-24. In parallel, the company remains committed to optimizing its expenditures, with costs reported at ₹79.20 crore in FY 2021-22, ₹107.81 crore in FY 2022-23, and ₹85.20 crore in FY 2023-24.
ODA Class is focused on scaling its existing products and reaching a broader user base. The company’s growth strategy is centered around achieving profitability without further funding.