A new Silicon Valley firm, Rocketship.vc, with a $40 million first fund, is using information and analytics to make its early-stage bets…. Springboard, the online learning platform that bridges the skills hole, announced today a COVID-19 reduction scholarship fund that will award up to $500,000 to potential college students whose lives have been immediately impacted by the coronavirus pandemic. This reduction scholarship is along with the $1.2 million already awarded and is now out there to current students and potential students making use of to the following cohort beginning on May 26. Now, Los Altos, Calif.-based Rocketship has doubled down on this thesis with a new $100 million fund.
The startup had earlier launched a brand new product which expanded its choices to schools and colleges. Teachmint for Institute provides instructional institutes a platform to conduct and monitor all their online classes and institute actions. From automating attendance, charges assortment and efficiency assessments to recording and storing lectures. Teachmint goals to grow its groups and hire skilled talent throughout product, technology and design. It desires to double its workforce within the next six months, and said that it will announce its ESOP buyback plan to reward and recognise the contributions of the team. Teachmint, a supplier of academic infrastructure, has raised $78 million in Series B funding organized by Vulcan Capital and Rocketship.vc.
The company is actively in search of partnerships with gamers innovating in expertise infrastructure across the training ecosystem and taking their products to bigger scale via Teachmint’s platform. The startup mentioned it has grown to a user base of over 10 million users in India and aims to scale this to over 100 million customers globally within the close to time period. The firm is planning on rising its teams and hiring expert expertise throughout product, technology, and design. The company is actively on the lookout for partnerships with gamers innovating in technology infrastructure throughout the education ecosystem and taking their merchandise to larger scale via Teachmint’s platform.
Edtech startup Teachmint has raised $78 Mn in a Series B funding spherical led by new investors Rocketship.vc and Vulcan Capital. The new spherical of investment also noticed participation from different new buyers corresponding to Goodwater Capital and Epiq Capital. Teachmint plans to use the new funding to improve its proprietary classroom know-how and expand into globally. Silicon Valley-based enterprise capital agency Rocketship.vc has announced shut of its second fund at USD one hundred million . The contemporary investment vehicle comes five years after the early-stage world VC agency had closed its first fund at USD forty million.
Existing investors Learn Capital, CM Ventures, Lightspeed India and Better Capital continue to double down their investments within the fifth spherical raised by the corporate. Teachmint is a mobile-first, video-first, educating platform that helps teachers to digitise their classrooms. It has greater than seven-hundred,000 teachers on its platform and is being utilized in over 1,500 cities and towns within the country. In July, it hadraised $20 million in a pre-Series B spherical led by Learn Capital with participation from CM Ventures. This came just two months after itraised $16.5 million in Series A funding led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital.
In the identical week, VCCircle reported that Amsterdam-based Global University Systems has acquired a one hundred pc stake in Indian education firm Edvancer Eduventures Ltd that offers on-line certification courses in data sciences. Madhu Shalini Iyer, associate at Rocketship.vc, stated Teachmint has addressed a latent know-how problem within the schooling sector and is nicely positioned to scale its offering globally. Edtech startups in India have been receiving greater cheques since the onset of the pandemic. Uncertainty throughout the opening of the faculties and educational institutes has eventually helped to breach the country’s conventional academic system, which has hardly seen any change in over one hundred years. In July 2021, Teachmint raised $20m in a Pre-Series B spherical led by Learn Capital with participation from CM Ventures. Just two months prior, in May 2021, the company raised $16.5m in Series A funding led by Learn Capital with participation from CM Ventures, Lightspeed and Better Capital.
We are additionally grateful to have the continuous support of our current traders as we execute our vision at the world stage.” Our expertise as founders, our expertise as world-class data scientists, and the biggest database of startup exercise are at your service. The company plans on doubling its workforce in the subsequent six months and can announce its ESOP buyback plan to reward and acknowledge the contributions of its staff. It didn’t share its post-funding valuation, however folks familiar with the development pegged it at $500 million, or about Rs three,750 crore. The investment comes three months after Teachmint bagged $20 Mn in its Pre-Series B spherical led by Learn Capital with participation from CM Ventures. The firm had raised its Series A of $16.5 Mn in May from Learn Capital, Lightspeed and Better Capital.
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