Edtech Startup Bhanzu Raises $15 Mn To Eradicate “Math Phobia” Among Students

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Bhanzu’s Series-A funding round was managed by Eight Roads Ventures, a global investment firm. B Capital participated in the round.

The new funds will be used by the startup to expand its business internationally across multiple geographies, improve its tech infrastructure and increase its workforce.

This development comes as the Indian edtech ecosystem is experiencing a slowdown due to the funding winter. Many edtech startups have also laid off staff.

Read more BMW Venture Fund invests in a Seattle-area startup.

Bhanzu, an Edtech platform, announced Wednesday (September 21st) that it had raised $15 million in Series A funding led by Eight Roads Ventures. B Capital invested from its Ascent Fund.

Global math startup, Math Learning Startup, plans to use the new funds to expand its business across multiple geographies, improve its tech infrastructure, increase its workforce, strengthen curriculum, and provide more outcome-focused content.

Bhanzu’s expansion plans to other geographies will help it eradicate “mathphobia” worldwide and inspire students to love mathematics.

“With this new development we envision becoming the largest and most impactful mathematics education entity in the world in the next few years,” Neelakantha Bhanu (Bhanzu CEO), who is also known for being the world’s fastest human-calculator.

Bhanu founded Bhanzu in 2020. He claims that Bhanzu has a carefully designed curriculum that will help students become 4X faster and more proficient at math. Bhanu personally created the curriculum after four years of data gathering and research.

“We believe in the potential for Indian education companies to solve global challenges over the next ten years. Aditya Systla (partner at Eight Roads Ventures) stated that low math proficiency is a serious problem caused by a lack of skilled teachers and poor engagement.

Systla said that Bhanzu’s pedagogy is very impressive and results in exceptional learning outcomes, cognitive development, and future readiness.

Bhanzu was able to raise $2 million in its 2021 seed round led by Lightspeed and other angel investors. According to the startup, the funding was used for scaling up live virtual classes in the country and increasing the number of employees in specialized technology teams.

Bhanzu currently employs 400 people and aims to attract high-impact talent to help it grow across all verticals.

This development comes at a moment when India’s edtech ecosystem is in turmoil due to the ‘funding freeze’ and decline of users caused by reopening schools and offline classes.

BYJU’S, an Edtech company, saw its loss increase 19.8X from INR 4,588 Cro in FY21 with a decrease in income.

Unacademy, Lido, Vedantu, and BYJU’S-acquired WhiteHat Jr. – have all laid off staff in recent months. However, Udayy and Superlearn are now closed.

As per an Economic pitch analysis, Indian edtech startups raised $2 Bn during the first half 2022. This represents a 41% decrease from the funding received in the second quarter 2021.

Read more Sequence orders up $19M, led by a16z to try a new approach in B2B fintech

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