FlipClass chief executive Vineet Dwivedi says the education start-up will look to integrate S. Chand's content with its learning tools
Bangalore: FlipClass (run by Gyankosh Solutions Pvt Ltd), an education start-up that operates a marketplace for home tutors, on Monday said it has raised $1 million in funding from S. Chand and Co. Pvt. Ltd, a publisher of textbooks and provider of online educational content, and venture firm Blume Ventures.
The Bengaluru-based firm had in 2014 raised about $250,000 in funding from LetsVenture, an online fund-raising platform.
FlipClass competes with Tiger Global-backed Vedantu Innovations Pvt Ltd, and Vidyanext (run by Pengala Learning Pvt Ltd), among others.
Education start-ups in India—broadly classified into those that help students in preparing for examinations, those that help students with daily coursework and those that help professionals advance in their career—have raised about $70 million in funding last year, according to data from start-up tracker Tracxn.
Although FlipClass belongs to the second category of start-ups that help students with their coursework, the third category of corporate learning start-ups is more lucrative than the others, with a little less than half of the total funding received last year going to such start-ups.
FlipClass claims it has an active database of 4,000 students and 10,000 tutors and has delivered over 200,000 hours of home and online tuitions.
“We are very excited to have S Chand invest in our platform. We will also look to integrate their content with our learning tools and provide a more enriching experience to students," said Vineet Dwivedi, chief executive officer, FlipClass, in a statement.