Bhanzu, Hyderabad-based Maths-learning platform, has raised $15 million in Series A round, led by venture capital firm Eight Roads Ventures. B Capital and existing investor Lightspeed also participated in the round. However, after the fundraise, it did not disclose the valuation.
According to the learning platform’s filings with the Registrar of Companies, Eight Roads Ventures invested Rs 87.82 crore, while B Capital and Lightspeed invested Rs 15.97 crore each.
Bhanzu aims to deploy the funds to venture into new geographies, build its team, and revamp its tech infrastructure.
The firm was founded in 2020 by Hyderabad-based firm Neelakantha Bhanu Prakash, popularly known as the World’s fastest human calculator, Prachotan D L, Uday Kiran, JSS Krishnakanth, and Srinivas Jonnalagadda.
Bhanzu uses a curated curriculum based on Prakash's journey to become the fastest human calculator to help students aged 6 to 16 learn mathematics.
Aditya Systia, partner, Eight Roads Ventures, said, "Low maths proficiency is a deep problem driven by lack of skilled teachers, poor engagement and maths anxiety in students. Bhanzu’s proprietary pedagogy and curriculum results in superior learning outcomes, cognitive development and future readiness."
The current funding round comes at a time when the ed-tech sector has come under the scrutiny of watchdogs, with startups laying off employees in the last quarter as the funding environment tightened.
Bhanzu had last raised a seed round of $2 million primarily led by Lightspeed and a few angel investors, which it used to scale up its online classes. The startup has a presence across India, South Asia and Middle East Asia.