upsurge, the edtech startup that teaches financial literacy and life skills to Gen Z through interactive games, has secured Rs 3 crore in a pre-seed funding round led by JCBL India, the family office of Rishi Aggarwal, and an early stage gaming-focussed VC firm. The funding will be used to accelerate growth, develop content and expand the platform’s reach.
Founded in 2021 by Karan Baweja, upsurge is a Delhi-based gaming-focused ed-tech startup that helps children learn about money management, entrepreneurship, and other important life skills through its proprietary games, interactive game-based courses and rewards.
Announcing the fund raising, Karan Baweja, Founder and CEO, upsurge, said “Financial literacy and life skills is an increasingly important competency in today’s world, and we believe that our interactive and engaging approach is an effective way to teach these valuable skills to young people. At upsurge, the mission is to inspire and empower the next generation with the holistic knowledge and skills they need to succeed in an evolving economy. We are thrilled to have the support of our investors as we work to empower the next generation with the skills they need to succeed in the modern world”.
Commenting on the investment, Rishi Aggarwal from JCBL India, said “Investing in the financial literacy and life skills of children in their early years is not only good for their future, but it is also an investment in the future of our society. We believe that upsurge has a potential to make a significant impact on youth globally and we are excited about their future”.
Teaching children about money management is essential for setting them up for financial success in the future. The seriousness of this is underscored by a recent report by National Financial Literacy and InclusionSurvey (NFLIS) 2019 Report, which found that only 27 per cent in India are financially literate. Financial literacy, entrepreneurship and skill-building are becoming increasingly important as in a rapidly digitising world.