New Delhi, July 8, 2020: Samsung Ventures-backed Edtech startup TagHive raises $10 million in funding from Complement Capital Managing Partner Joon Hyon.
While the company did not disclose the amount of funding raised in the pre-series A round, sources said the amount ranged between Rs 3-5 crore.
“Our efforts to develop the product in South Korea have paid rich dividends to us as we now cater to over 400 schools there,” Pankaj Agarwal, founder, and CEO of TagHive, said.
Class Saathi, as a platform, has already been proven to be effective in India in collaboration with the governments of Uttar Pradesh and Madhya Pradesh, he said, adding that the startup will deploy the funds to strengthen its presence in these two states.
The funds will also be used to rapidly grow the presence of Class Saathi to other states, the company said.
Agarwal stated that in India, the company has already onboarded close to 50 schools in less than a year and is looking at expanding its operations across 10,000 schools by 2022.
“We need to take cognizance of the fact that e-learning has tremendous business potential in India, as has been witnessed in this lockdown.
“Class Saathi is intuitively designed to create an interactive and immersive learning experience for the students making them confident about their subjects which might not be possible with classroom learning alone,” he said.
Founded in 2017 in South Korea by IIT Kanpur graduate Pankaj Agarwal, TagHive offers an affordable edtech platform (device and software) for schools.
It’s Class Saathi solution offers a combination of a classroom response system for schools and an at-home learning solution to create an engaging online learning experience.