Indian EdTech startup Teachmint raises $16.5M in Series A funding for its online teaching platform

Teachmint, a Bengaluru, India-based online learning platform that focuses on tutor-student connectivity, has raised $16.5 million in Series A funding round led by global EdTech venture capital firm Learn Capital. Other backers include CM Ventures, and existing investors Lightspeed and Better Capital.

Founded last year at the height of the coronavirus pandemic, Teachmint is an all-in-one solution for online teaching that combines live classes, student engagement, and admin tools. The company’s product is a mobile-first video-first app that enables tutors to seamlessly digitize their tutoring business with a simple and familiar mobile experience.

Teachmint will use the new capital injection to hire top talent, R&D on teaching technology, strategic acquisitions, and further market expansion. This is Teachmint’s third round of investments within 10 months of its launch in May 2020, making it the fastest EdTech startup in India to raise more than $20 million in capital.

In just a year since founded, Teachmint has grown to become the world’s largest live teaching platform outside China. Teachmint already has more than 700,000 teachers on its platform and is being used in over 1,500 cities and towns in the country. Other than English, it is also available in 10 Indian languages. Its mission is to democratize online education. It helps teachers to digitize their classrooms.

Teachmint Series A also marks the first major lead investment in India by Learn Capital, often regarded as the first-ever and leading global EdTech venture capital firm with early investments in Coursera, Udemy, Brainly, and 50+ global category leaders.

Teachmint has rapidly become the default teaching application in India with end-to-end digitization of live classes, AI-powered automated assessments, admin tools and fee collection. Teachmint has been adopted by teachers, private tutors, coaching operators and freelance educators across the country, covering users in over 1,500 cities and towns. Through Teachmint, teachers are not just engaging their existing students, but are able to access larger student bases across the country, through growth tools like personalized websites, public streaming and social media integration.

Teachmint was founded by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, alumni of IIT Bombay and IIT Delhi with executive experience at OYO, McKinsey, Swiggy, and Roposo. The founding team’s vision is to democratize online education by making online teaching easy and by doing so, increase access to quality teachers for students in India and abroad.

Mihir Gupta, Co-founder & CEO at Teachmint shared, “We started Teachmint to address the big technology-infrastructure gap in teaching and learning. Through Teachmint, existing teachers have adopted technology to significantly increase their teaching efficiency, reduce costs and increase their student base. In addition to existing teachers, Teachmint is supporting new individuals to create teaching businesses from scratch across domains like K-12 tutoring, test prep, and extra-curricular learning.

“We are excited to welcome Learn Capital who have been partners to the journeys of some of the largest education companies globally. We look forward to learning from their experience across global markets. We are also thankful to CM Ventures as well as our existing investors Lightspeed and Better Capital for their continued support towards our cause.”