Classplus, a Noida-based edtech startup, is all set to raise $80 million in a Series D round co-led by existing investors.

First reported by Entrackr, citing sources, Alpha Wave Global and Tiger Global will lead the Series D round. The funding round will also have participation from existing investor TRP Global Partners and Abu Dhabi’s Chimera Investment.

As per one of the sources, the term sheet has been signed, and Classplus is likely to be valued at around $500 million.

Classplus | Empowering Educators And Content-creators To Go Digital

Founded by Bhaswat Agarwal and Mukul Rustagi in 2018, Classplus is an edtech platform that aims to redefine classroom engagement in India. The edtech platform offers full-stack mobile solutions to educators and helps them sell their online courses to students.

The platform claims to have digitised over 1 lakh tutors across 1,500 cities serving 20 million students. Additionally, more than 80% of its user base comes from tier II and III cities, as per the company’s website.

In June 2020, Classplus acqui-hired Bengaluru’s Merak.ai, a data-entry automation solution. 

Rise Of Edtech India

Since the advent of the pandemic in India, investments in the edtech segment have considerably increased. In 2021, the edtech sector in India received funding close to $5.8 billion, as per data tracking platform Fintrackr. 

Recently, several edtech startups, including Scaler Academy, Emeritus, CoLearn, Filo, Cialfo and Bhanzu, have raised funds. In the first two months of 2022, the edtech segment witnessed huge funding inflow through 25 deals.

Emeritus, a Mumbai-based edtech unicorn, raised $350 million in debt financing from CPP Investments. Also, live tutoring startup Filo raised $23 million in Series A funding, which is reportedly the largest Series A round in the Indian edtech space.

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