Edtech platform Kyt has raised $ 5 million in a Series A funding round led by Alpha Wave Incubation along with participation from Sequoia Capital India’s Surge, January Capital, Titan Capital, and other angel investors.
Kyt is the first Indian company to bag funding from Singapore-based January Capital that has primarily focussed on ASEAN5 (Indonesia, Thailand, Philippines, Malaysia, Vietnam), Australia, and New Zealand.
The startup, founded by Bhavik Rathod, who was the head of Uber Eats India & South Asia, runs extracurricular courses online by combining live classes with video-based revision materials for children aged 5 to 15.
“Extracurricular learning is a critical aspect of a well-rounded education. Kyt has made it possible for students from every corner of the world to access quality learning from best-in-class teachers and practitioners in each field,†said Utsav Mitra, investor at Falcon Edge Capital.
Founded in 2020, the company plans to utilise the funds to expand into the US, Canada, UK, and Australia and target other global markets by setting up a regional headquarter in the UAE. It also plans to invest in technology and recruitment, including hiring scientists, product managers, and engineers located in Abu Dhabi.
Kyt claims to be doubling its reach every month and having a user base of thousands. The platform has more than 20 teachers on board, with plans to increase this to 500 over the next 12 months.
It has exclusive partnerships with educators and artists such as Indian Chess Grandmaster Vidit Gujrathi, Mumbai-based vocalists Kamakshi & Vishala, Philippines’ hip-hop legend Ruel Varindani, and yoga instructor Sabrina Merchant. The company plans to add more courses, including speech and debate, spelling bees, guitar, and keyboard.
“This new investment will greatly boost our efforts in providing a well-structured curriculum, designed by pedagogy experts and education consultants to help each child realise their potential,†said Rathod, cofounder & CEO, Kyt.
The startup counts Allen Penn, Kunal Bahl, Rohit Bansal, Amrish Rau, and Kunal Shah among its backers.
