ODA Class Raises $500K from Singapore, China Investors
By Rediff Money Desk, New Delhi Aug 29, 2024 12:44
Edtech firm ODA Class secures $500,000 in Series B funding from Singapore and China-based investors, boosting its total funding to $12.75 million.
New Delhi, Aug 29 (PTI) Edtech firm ODA Class said on Thursday it has raised USD 500 thousand (about Rs 4 crore) in a fresh funding round from Singapore and China-based investors.
Skywalker Education Technology Co Ltd. (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited, and Matrix Partners China invested in ODA Class during the series B funding round.
"ODA Class has announced the completion of its series B funding round by securing USD 5,00,000. The company is supported by investors who believe in its mission, including Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China," ODA Class said in a statement.
With this fresh funding round, the edtech firm has raised USD 12.75 million (about Rs 106 crore) from investors.
The company raised USD 9 million in 2021, USD 3 million in 2022 and an additional USD 2,50,000 in 2023
"With the latest funding, we are well-positioned to enhance our technological capabilities... Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country," ODA Class, Finance Head, Neeraj Kumar said.
The company reported a revenue increase to Rs 65.81 crore in FY 2023-24, up from Rs 26.9 crore in FY 2021-22.
"In parallel, the company remains committed to optimising its expenditures, with costs reported at Rs 79.20 crore in FY 2021-22, Rs 107.81 crore in FY 2022-23, and Rs 85.20 crore in FY 2023-24," the statement said.
Skywalker Education Technology Co Ltd. (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited, and Matrix Partners China invested in ODA Class during the series B funding round.
"ODA Class has announced the completion of its series B funding round by securing USD 5,00,000. The company is supported by investors who believe in its mission, including Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China," ODA Class said in a statement.
With this fresh funding round, the edtech firm has raised USD 12.75 million (about Rs 106 crore) from investors.
The company raised USD 9 million in 2021, USD 3 million in 2022 and an additional USD 2,50,000 in 2023
"With the latest funding, we are well-positioned to enhance our technological capabilities... Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country," ODA Class, Finance Head, Neeraj Kumar said.
The company reported a revenue increase to Rs 65.81 crore in FY 2023-24, up from Rs 26.9 crore in FY 2021-22.
"In parallel, the company remains committed to optimising its expenditures, with costs reported at Rs 79.20 crore in FY 2021-22, Rs 107.81 crore in FY 2022-23, and Rs 85.20 crore in FY 2023-24," the statement said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.89 ( 0.00)
- 69758135
- Standard Capital
- 1.26 ( -16.00)
- 55792425
- GTL Infrastructure
- 2.37 (+ 4.87)
- 50169700
- Vodafone Idea L
- 9.18 ( -1.50)
- 27130818
- Jaiprakash Power Ven
- 22.33 ( -2.45)
- 21183721
MORE NEWS
Mandhana Industries Promoter Accused of Loan...
ED chargesheet alleges Purushottam Mandhana diverted business loans for personal gain,...
India's Industrial Output Contracts in August:...
India's industrial production declined by 0.1% in August, primarily due to weak...
Women-Owned Micro Businesses Lack Emergency...
A new report highlights the financial vulnerability of women-owned micro businesses in...