Edmingle, a SaaS platform for small and medium-sized training and coaching businesses, has raised $1 million in its Pre-Series A Round, led by the Indian Angel Network (IAN). Investors Jaideep Mehta, Rahul Mahipal, and Vasudevan led the funding round at IAN. Besides IAN, Keiretsu Forum joined the Pre-Series A round, along with previous investors SucSEED Indovation Fund and Mumbai Angels Network.
With this investment, Edmingle will expand globally, scale its marketing and sales channels, as well as automate their product to help training businesses grow sales, and retain learners globally.
Founded in 2016 by Gaurav Doshi, Prashant Agarwal, and Harshit Sharaff, Edmingle enables training businesses to create their online courses and services, automate their enrolment process and payment collection, and deliver their courses in an engaging self-paced or live mode.
Gaurav Doshi, Founder and CEO of Edmingle, said, "Given the highly personalised nature of professional and vocational training categories, we strongly believe that a huge number of independent organisations and individual experts have the opportunity to create a profitable and niche market for themselves."
Jaideep Mehta, IAN's lead investor, said, "The platform’s business model is capital efficient and has sound unit economics, which gives us the confidence to partner with them through their journey."
Vikrant Varshney, Co-founder and Managing Partner, SucSEED Indovation Fund, said, "As per the RBSA Advisors report, the Indian EdTech industry was valued at $750 million in 2020 and is expected to reach $4 billion by 2025 at a CAGR (compound annual growth rate) of 39.77 per cent."
Currently, India is the second-largest e-learning market. The Indian edtech market is projected to touch $30 billion by 2031, up from $700–800 million in 2021.