88academics, an edtech startup founded by former 3i Asia head Anil Ahuja, has raised $3 million (Rs 22 crore) in a pre-Series A funding round from Aarin Capital. Ahuja said bringing in Aarin is a huge endorsement as they were one of the first investors in Byju’s. “Names like Ranjan Pai and Mohandas Pai coming into this tiny startup is an endorsement of the quality of the technology stack,” he pointed out.
The New Delhi-based startup which is part of Singapore-based 88tuition will use the funds to develop India-specific content for the K-12 (kindergarten to 12th grade) segment, Ahuja said adding that “we will launch in 2022 academic year”. We are adding about 5,000 students a quarter which is like 1.5 per cent of the student population in Singapore, and we are planning to bring the same teaching to India,” he said. The product could be priced like Netflix and “you don't have to be stuck to a programme or package for five years”, Ahuja added.
In Singapore, the startup has partnered with names like DBS Bank, Singapore Indian Development Association, and People Association. It is also likely to partner Manila which is the capital of the Philippines. In the past Ahuja has worked with JP Morgan and 3I Asia.