Deal Talk: Amitabh Bachchan, others invest $28 mn in Eduisfun; IIT Madras-incubated YNOS Venture raises seed funding

Mumbai-based ed-tech startup Eduisfun has secured $28.1 million in its first funding round from angel investors and high net-worth individuals.

HDFC chairman Deepak Parekh and actor Amitabh Bachchan participated in the round in their personal capacities, according to media reports.

Other investors include Piyush Pandey, chief creative officer of the Ogilvy Group and Russell Parera, partner, assurance at PricewaterhouseCoopers.

The startup will use the capital to increase its scholarship pool and for technological updates on its app, The Economic Times report.

Eduisfun was founded in 2014 by Jatin Solanki and Praveen Tyagi. The company has developed an app called STEPApp, which claims to make learning easy for school children through its gamified format. The app has lessons mapped to the CBSE and ICSE curriculums.

YNOS Venture

Chennai-based YNOS Venture Engine has raised $100,000 in a seed funding round from angel investors, multiple media reports said.

Mahesh Ramachandran, Partner at Pontaq, a cross-border innovation fund, led the round.

Other investors and founder promoters also participated in the round along with IIT Madras Incubation Cell.

The fresh funds will be utilised to meet planned investments in technology and to strengthen product development, Mint said.

YNOS is incubated at the Indian Institute of Technology-Madras Incubation Cell. The company was founded in 2017 by Thillai Rajan, who is a Professor at IIT Madras.

YNOS Venture Engine uses advanced data science techniques to market analytics and provides customised insights to entrepreneurs.