BackEd-tech start-up CueLearn attracts investment from Alok Mittal
The company plans to use the additional funds to expand across the country and aims to reach 25,000 teachers and half a million students within three years
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Bengaluru: Math tutoring programme CueLearn has attracted an undisclosed amount of angel funding from former managing director of Canaan Partners Alok Mittal. The programme is meant for children through kindergarten to middle school.
The company plans to use the additional funds to expand across the country and aims to reach 1,000 teachers within the next 12 months and 25,000 teachers and half a million students within three years.
CueLearn has in the past attracted seed funds from the Unitus Seed Fund, a Bengaluru and Seattle-based venture seed fund for social start-ups. Earlier in July, Unitus Seed Fund invested in Hippocampus Learning Centres, a rural kindergarten and remedial school programmes provider. The after-school learning market in India is estimated to be worth $5 billion, and CueLearn is targeting the money spent on learning math outside schools.
The programmes are offered through small home-based centres and are delivered through a mix of paper-and technology-based learning systems, gamifying the learning experience, enabling students to learn better and retain more.
“I’m excited about the after-school learning space in India as the opportunity is immense, with no real market leaders at present," said Mittal, in a statement. “CueLearn’s approach to this problem is a business model that is asset-light and extremely scalable, ensuring high-quality academic delivery," he added.
The company claims that a teacher can spend only a few hours a week to earn more than ₹ 20,000 a month through CueLearn. It employs stay-at-home mothers and others as micro-franchisees to deliver the learning programme.
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