Edtech startup Creative Galileo has raised $ 2.5 million in an initial round of funding led by Kalaari Capital.
While Kalaari contributed $ 2.1 million, a handful of angels such as Harish Bahl (founder of Smile Group), Shashin Shah (Managing Partner of Think Investments), Ashwin Puri (former Facebook Managing Director for the Asia Pacific region) ), among others, invested the remaining amount.
For Kalaari, Creative Galileo is the first participant in its flagship CXXO program that it launched earlier this year.
Founded by Prerna A Jhunjhunwala and Nikhil Naik in July last year, the company creates personalized learning experiences for children between the ages of three and 10. Provide children with access to education through storytelling videos, audiobooks, gamification, and personalized learning journeys.
India has the third largest gender gap in entrepreneurship worldwide. Although women make up nearly 49 percent of the total population in India, they make up only 14 percent of all entrepreneurs, according to government data.
In an effort to support, mentor and fund female entrepreneurs, Kalaari Capital has launched CXXO, a dedicated $ 10 million fund that will invest in startups with female founders and CEOs. That’s in addition to providing a community of mentors and coaches to guide the cohort of 8-10 female founder-CEOs each year.
“We believe that technology in learning can provide unmatched access and affordability and enhance literacy for a much broader target segment. Technology as a means of transformation led by passionate founders, designed for the next generation of young digitally native learners is what Creative Galileo stands for, ”said Vani Kola, Managing Director of Kalaari Capital.
According to UNESCO, almost 800 million students around the world do not have access to quality education. Creative Galileo’s ‘Early Learning App for Kids’ was launched to make learning accessible, especially for the early learning segment, which represents an under-penetrated and under-invested sector, the company said.
“Our vision is to provide high-quality content for learning while the process is fun,” said Prerna A Jhunjhunwala, founder of Creative Galileo.
“The funding will help us add more famous international and Indian characters and languages, hire talent, scale and forge new partnerships. This will further drive our efforts to create more personalized, inclusive and relatable content that is helpful for a child’s development in the early years, “added Jhunjhunwala.
The e-learning app claims to have logged more than four million downloads and to have more than 5 lakh of monthly active users. In addition to India, the app has gained traction in global markets, with 10 percent of downloads coming from counties such as Nepal, Bangladesh, the United Arab Emirates, and the US.
The new fund raised will be used to scale, develop products, link with leading animation firms and recruit. The startup has already partnered with industry leaders like Big Animation, Periwinkle, Shermaroo, and Toonz.