S. Vishnu Sharma
Avishkaar, a category leader in next generation technology raised a funding of Rs 5 crore in a pre-series A from Auxano, Mumbai Angels, Alok Mittal, angel investor and Co-founder and CEO, Indifi Technologies, and Varun Aggarwal, Co-founder, Aspiring Minds.
Avishkaar plans to utilize the funding towards product development and further expansion of its portfolio in addition to hiring talent.
Avishkaar witnesses great growth in FY21
Further, with its mission to build an army of young innovators globally, the company will invest in marketing.
India will continue to be a focus market this year with enough scope to grow in Tier-I and Tier-II cities while catering to inbound queries from international institutions.
Avishkaar has previously raised Rs 5 crore in seed investment from Auxano in February 2018 towards expanding its presence across the country in schools and the launch of a new line of products.
Ever since, Avishkaar has quadrupled its presence and revenues.
In the pre-COVID period, Avishkaar was working with over 1500 schools and had grown its user-base to over 100,000 children.
Post March 2020, the pandemic forced schools to shut down with children and parents grappling with the online learning mechanism.
Avishkaar was quick to adapt to this situation and shifted gears to focus on a D2C (Direct to Consumers model) through its existing school network and e-commerce channels.
This shift in strategy has accelerated the brand’s growth by more than five times in the last one year.
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Speaking about the investment, Tarun Bhalla, Co-founder and CEO of Avishkaar said Avishkaar’s goal since its inception has been to create an army of innovators.
Exponential technologies like AI, Robotics, Coding and 3D printing are already defining the world around us, he said.
However, with COVID-19, technology is at the heart of everything and it’s important that we impart these skills amongst our children if they find these fields exciting.
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Avishkaar’s approach is one of a platform that comprises hardware kits, software solutions and LIVE online classes to ensure that children have the right tools, curriculum, coaching and environment to excel at these skills, said Tarun Bhalla.
‘We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward, he added.
Pooja Goyal, co-founder and COO of Avishkaar said innovation is at the heart of everything we do and Avishkaar platform empowers every young maker to bring their ideas to life using a deep understanding of next generation technologies.
We provide a comprehensive platform that bridges the gap between next-generation technology skills and life skills with appropriate tools, community, content and mentoring, she said.
If we are to nurture creators and not mere consumers then it is important for parents, and schools to create micro-environments where children can make, break, experiment, take risks and fail, she said.
Brijesh Damodaran Nair, founder and Managing Partner of Auxano said since the time of their investment in 2018, the Avishkaar team has witnessed a life cycle in the business, both good and not-so-good times and their passion along with tenacity has been displayed over the years.
Having launched new product lines along with creating new verticals, strengthening the leadership and operational teams, Avishkaar is poised to reach greater heights, he said.
Nandini Mansinghka, co-promoter and CEO of Mumbai Angels Network said ed-tech is one of the most lucrative sectors and one of the few industries that has emerged triumphant from the pandemic’s impact.
The education sector will heavily rely on technology-driven teaching and learning even after the pandemic has passed.
Avishkaar has been consistent in providing seamless solutions that cater to today’s learners and we believe that this investment will enable them to further innovate, expand their offerings and grow, said Nandini Mansinghka.
About Avishkaar
Avishkaar is one of India’s largest robotics, coding and edtech providers for children between the age group of 5 to 15 years.
Avishkaar is at the cutting edge of next-gen technology education providing a comprehensive platform to teach and learn 21st-century skills like Coding, Robotics, AI, IoT, 3D printing and Drones.
Avishkaar is the only edtech platform that provides microdegrees for Robotics, Coding and App development. The company supports more than 1500 schools and 100,000 children across the globe in their journey to be future-ready.
The platform includes Award-Winning Robotics kits like E Series, Tweak, and Maker Board, Personalized Learning with Live Online courses led by expert teachers, an active and engaged online community of children who love to code, build and innovate, an international championship for coding and robotics titled Avishkaar League.
In 2017, the organisation started setting up Atal Tinkering Labs envisioned by NITI Aayog. The company has set up over 1000 of these labs across the country.
The organisation has won several awards for innovation and its contribution to Tech education in India such as IMARK 2020 Design award by India Design Council in 2020, Emerge 50 Awards 2016 by Nasscom, Best STEM Product Suppliers by AICRA, Top 100 Startups to Watch 2018 by SutraHR to name a few.