Edtech startup Creative Galileo has raised $2.5 million in seed round of funding led by Kalaari Capital.
While Kalaari pumped in $2.1 million, a clutch of angels including Harish Bahl (founder of Smile Group), Shashin Shah (managing partner at Think Investments), Ashwin Puri (former managing director of Facebook for the Asia-Pacific region), among others, invested the remaining amount.
For Kalaari, Creative Galileo happens to be the first investee from its flagship CXXO Programme that it launched earlier this year.
Founded by Prerna A Jhunjhunwala and Nikhil Naik in July last year, the company creates personalised learning experiences for children aged between three and 10 years. It gives kids access to education via narrative videos, audiobooks, gamification and personalised learning journeys.
India has the third-biggest gender gap in entrepreneurship across the world. Although women account for nearly 49 percent of total population in India, they constitute only 14 percent of total entrepreneurs, as per government data.
In an effort to support, mentor and fund women entrepreneurs - Kalaari Capital has launched CXXO - a dedicated $10 million fund that will invest in startups with women 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 bring unmatched access and affordability and improve literacy for a much larger 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 at Kalaari Capital.
According to UNESCO, nearly 800 million learners from across the world do not have access to quality education. Creative Galileo’s ‘Kids Early Learning App’ 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 keeping the process fun,” said Prerna A Jhunjhunwala, founder of Creative Galileo.
“The funding will help us add more famous Indian and International characters and languages, hire talent, scale-up and forge new alliances. This will further fuel our efforts in creating more personalised, inclusive and relatable content helpful in a child's development in the early years," Jhunjhunwala added.
The e-learning app claims to have clocked over four million downloads and have over 5 lakh monthly active users. Apart from India, the app has gained traction in global markets, with 10 percent downloads coming from counties such as Nepal, Bangladesh, UAE, and the US.
The fresh fund raised will be used for scaling, product development, inking tieups with leading animation houses, and hiring. The startup has already tied up with industry leaders like Big Animation, Periwinkle, Shermaroo and Toonz.