New Delhi based education startup Avishkaar Box had raised Rs 5 crores in pre-series A funding from Auxano Deals. As per the data, the total equity dilute was around 20% and the deal values Avishkaar Box at around USD 4 million.
The company intends to use these funds to strengthen its presence pan-India and for a rapid expansion in Asia.
With this investment, founder and CEO, Tarun Bhalla, plans to propel Avishkaar Box to bring about a revolution in Science, Technology, Engineering and Mathematics (STEM) learning, not only in India but also in the Asian and middle-eastern markets, with an expansion.
“We have created a platform that inspires children to innovate. This platform has the power to continuously grow along with its user and give him/her super powers to continually innovate and inspire right from a basic robot to an energy efficient system or a spy alarm to driving management system.” said Tarun Bhalla.
“The company is also looking to strengthen its channel partner network especially in Karnataka, West Bengal, Odisha and other parts of east and south India. We are confident that we will double company’s turnover to USD 3 million within two years from USD 1.5 million in the current year,” he added.
Avishkaar Box is one of the foremost players to set up Atal Tinkering Labs (ATL), a project of the government of India which includes supplies of education tinkering and robotic kits to over 2,400 schools across India.
The company has also been conducting the IRC League, a league that aims to challenge young and creative minds by giving them problems to solve and build a better world for tomorrow using tools of science and technology, since 2009.
At present, Avishkaar Box has a presence in more than 400 schools pan-India in addition to 125 Tinkering Labs set up across the country.