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Edtech iXR Labs Raises Rs 6.6 Crore From Angel Investor

The company will utilise the fresh funds in scaling up its product categories

Edtech iXR Labs Raises Rs 6.6 Crore From Angel Investor
Nihar Madkaiker, co-founder of iXR Labs
POSTED ON December 13, 2022 5:59 PM

iXR Labs, a virtual reality (VR)-based edtech for higher education, has raised Rs 6.6 crore (0.8 million) in a seed funding round.

The investment round was led by an angel investor from the infrastructure development industry. 

The Gurugram-based start-up will utilise the fresh funds to scale up its product categories. Additionally, it aims to accelerate its virtual lab by developing more than 500 VR modules across engineering, medical and science domains. 

iXR Labs currently claims to be deployed at 20 institutions and is eying at tap over 200 in the coming months. 

Commenting on the recent development, Nihar Madkaiker, co-founder of iXRLabs said, "iXR Labs VR platform allows students to conduct experiments inside a virtual lab, visit various industrial tours, visualise the processes, and explore life-size industrial equipment, at a fraction of the cost and from the safety of the classrooms.”

He added that the company is aiming to take the product to over 1000 colleges to be amongst the leading higher education enablers by 2025.

“VR is being increasingly used in organisations to skill the workforce on various industrial applications. Over time we see iXR Labs product being deployed for industrial applications particularly, for training the workforce in the infrastructure and manufacturing industry as well in addition to the higher institutions,” the investor said while addressing the decision to invest in the company. 

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