Edtech startup Classplus has raised $10.01 million as the first tranche in its ongoing funding round, valuing the startup at nearly Rs 550 crore.

First reported by entrackr, the funding round was led by Alpha Wave Incubation, and it also saw participation from existing investors RTP Global and Blume Ventures. 

Founded by Mukul Rustagi and Bhaswat Agarwal, Classplus aims to redefine classroom engagement in India.

Classplus offers a mobile-first software-as-a-service (SaaS) platform and allows coaching centres to take their brick-and-mortar setup online.

Coming back to the news, with this funding, the valuation of the startup has increased 83.3% to Rs. 550 Crore as compared to Rs 300 crore in its earlier funding round.

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