Menterra Venture invests around Rs3 crore in Math Buddy
New Delhi: Bengaluru-based social impact fund Menterra Venture Advisors Pvt. Ltd on Tuesday said it had invested close to Rs3 crore in Math Buddy, an educational start-up from Concept Learning Technologies Pvt. Ltd.
Math Buddy will use the funds to expand operations to more schools and strengthen training modules for teachers.
Founded in 2012 by husband-wife duo Kannan and Bharathy Bharadwaj, Vadodara-based Math Buddy partners with schools and provides interactive mathematics learning modules for students from class I to X.
“With a combination of hands-on activities and virtual interactive software, the program caters to all types of learners in a classroom—kin-aesthetic, visual and auditory, and helps them understand math better,” said the company in a statement.
The company claims to offer 1,500 activities, 800 interactive worksheets and an online Olympiad to students in 200 schools across 19 states. It aims to work with 2,000 schools in the next three years.
“The Menterra team has been actively working with us to designing strategies to reach low-income schools,” said Kannan Bharadwaj.
“We want to make a difference in the way children learn math irrespective of what kind of schools they go to. We are also working on vernacular support and local curriculum alignments so that schools from any nook and corner of India can use our product,” added Bharathy Bharadwaj.
Menterra invests Rs1-3 crore in early-stage social enterprises working in education, health and agriculture. The social impact fund was launched in January 2016 with a corpus of Rs40 crore, VCCircle had reported.
Math Buddy is Menterra’s fourth investment this year, after health tech start-up Biosense Technologies Pvt. Ltd, agribusiness start-up NubeSol Technologies Pvt Ltd. and a skill training company, Leap Skills Academy.
This year also saw one of the largest funding rounds in the education technology sector in March, when Bengaluru-based Byju raised $75 million (approximately Rs500 crore) from venture capital firm Sequoia Capital and Belgian investment firm Sofina. Byju offers online, mobile-app based learning programmes for class VI to XII students and preparation programmes for competitive exams.