PurpleTutor, an Inda-based startup focusses on artificial intelligence (AI) based live classes, has recently raised Rs 10 crore ($1.25 million) in its Series A round.
The round saw participation from Disruptors Capital, IvyCap Ventures, Arjun Malhotra (Co-Founder, HCL) and others, PurpleTutor said in a statement.
According to the statement, this round will help the company build its product offering and strengthen the AI product.
The company has earlier raised $300,000 in its seed round in January last year. The company has raised a total of $1.6 million of funding.
“Our AI in live classes is a very unique product, and it helps to personalize classes at the same time helping teachers,
“The current fund raise will help us strengthen our technology and product teams, and build on our AI product even further and expand product lines,” said Gaurav Perti, Chief Executive Officer of PurpleTutor.
According to the statement, the company recorded a 4.5 times jump in revenue in FY21 compared to last fiscal year. Its overall revenue for FY 21 stood at RS 10.41 cr ($1.3 million). While building the AI product, the company has grown in revenue too.
Currently, PurpleTutor focuses on AI driven live classes across computational thinking subjects such has app development, game design, 3D game design, AI machine learning etc.
PurpleTutor said personalization of the learner’s journey is one of the most sought-after goals of AI in classes, and this allows every child to carve out their own unique individual learning path, completely breaking the one-size-fits all classroom approach.
“Our immediate goal is to enhance the AI offering given the success we’ve had on all soft & hard metrics on using our AI product,
“We are also looking to launch other subjects since the AI product we’ve developed is subject agnostic”, said Gaurav.
Vikram Gupta, Founder and Managing Partner of IvyCap Ventures said as an investor, the firm is happy to strengthen its association with PurpleTutor which dates back to January 2021.
“Their potential to bring advanced courses for every child is unbound. I believe what sets PurpleTutor apart is its smart and unique ways of using AI,
In addition to enhancing the learning experience of a child, he opined that PurpleTutor bring benefits for the teachers as well as they do not replace well-qualified teachers but enable them with a tool that enhances their teaching experience,
“The available opportunity along with PurpleTutor’s strong knowhow about the sector gives us the zeal to invest in PurpleTutor again. We are really looking forward to the next chapter in our association,” he added.
Disruptors Capital Managing Partner and Chief Investment Officer Raj Juneja said the firm has been impressed with PurpleTutor’s ability to personalise a leaners journey.
“Most recently the internal results from their homegrown AI for teaching product, promises a big step forward towards personalisation in edtech and enhancing learning outcomes for students,
“We are glad to be part of their journey, as they embark on this next stage of innovation in EdTech,” he said.
PurpleTutor is a Mumbai-based ed-tech startup focusses on AI-driven live classes in the age group of 6-18.
The firm has a unique AI hybrid teaching model, which has technology at the core along with the teacher which ensures that they can do all this at scale.
It has over 2,00,000 registered users on the platform with hundreds of teachers.
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