The company aims to maintain its upward development trajectory and fortify its position in the edtech market
Mumbai-based Indian edtech firm uFaber has secured Rs 25 crore in a Series A funding round led by Mastermind JPIN Capital Partners and Gray Matters Capital. The ed-tech firm had previously raised Rs 2.5 crores from angel investors.
The company aims to maintain its upward development trajectory and fortify its position in the edtech market.
The start-up will utilise the fund to advance its expansion ambitions including increased system capacity, improved technology, and a larger team. It is also eying to enroll over one lakh students with more than 5,000 trainers onboarded by 2024.
Founded in 2015, uFaber claims to provide customised training curricula for students as young as three years old. Catering to a wide range of demographics, these programs like Fluent Life, eMaester, IELTS Ninja, UPSC Pathshala, and Real School.
According to. Rohit Jain, Co-Founder of uFaber, the company is thrilled to have Mastermind JPIN Capital Partners and Gray Matters Capital as partners. He expressed confidence that this collaboration will yield significant results in the months to come. The funds from the investment will be used to drive growth and enhance the training experience at uFaber.
“The company's mission has always been to make personalized training accessible and scalable, which allows women to balance career and family life. By investing in the product and the team, uFaber aims to continue advancing this mission and positively impact the lives of their students,” he added.
Speaking on investing in uFaber, Smita Sircar, President & CEO of Gray Matters Capital, commented, “uFaber’s area of focus and associated business model is aligned with GMC’s mission of “Finding Purpose with 100 million women”. uFaber trains teacher’s majority of which are women and gives them an opportunity to work from home in over 100 small towns to teach English via online mode to the youth at an affordable cost and superior efficacy. Spoken English will continue to be an important market for upward mobility of low-resourced communities as well as necessary if India has to provide the future workforce to the world.”
Speaking about the Business model, Manish Ladage, Founder of Mastermind JPIN Capital Partners, an SME-focused growth fund, stated that “UFaber is a uniquely positioned EdTech Company with the niche in online English test preparation and English-speaking Courses, along with a strong proposition of one-to-one training by a significant number of onboarded trainers. We are excited to be part of UFaber’s multifold growth story.”
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