Edtech company Ednovate whose idea is to innovate education for Commerce students, recently announced that they have raised Series A funding from Dr. Vinay Jain- Chairman Witty Group of Institutions, Well renowned angel investor Mr. Ajay Sarupria and Mr. Kaushik Mehta.
Ednovate intends to use the funds for its rapid expansion plan in order to scale their operations across India and globally. It already has four physical branches in Mumbai, an online presence in over ten cities, and plans to have a PAN-India presence within the next three to four years.
Ednovate began operations in March 2021 as a platform for Commerce students with the goal of providing a one-stop shop solution to students and guiding them through their entire CA journey. Ednovate on-boarded over 2500 students in less than a year and aims to revolutionise and innovate teaching methodologies for India’s unorganised coaching industry.
Speaking on the latest round of funding, Mr. Ashish Shah, CEO, Ednovate says, ”Ednovate was born out of passion to provide quality education to CA and commerce stream and to solve the pain points of the students in their journey. We launched Ednovate during the pandemic to revolutionize the Commerce Coaching industry and for the first time provide live interactive zoom lectures to students including doubt solving sessions, test series, Know Your Report and handholding students for their teaching needs. I want to build a self-sustainable profit-making business for my investors and I am very excited to bring on board Dr. Vinay Jain, Mr. Ajay Sarupria and Mr. Kaushik Mehta and look forward to their guidance, mentorship and support.”
Dr. Vinay Jain, Chairman, Witty Group of Institutions said, “I have seen the journey of Ednovate and I am very proud as to how they have overcome their challenges and come out stronger. Investing for me, personally, is about the team. Ednovate Team has high ethics, integrity and strong execution capabilities and I think the team has the potential to make this Company as the next unicorn in the edtech space. I am glad to partner with Ednovate in their growth journey of innovating education.”
On the funding, Angel Investor, Mr. Ajay Sarupria, “Ednovate is truly an inspiring story of how challenges can be converted into opportunities and how team cohesiveness is so important to take any organization to greater heights. The team has clarity of thoughts for their phase wise realistic expansion plan which I think is very important for any start-up to grow. I am sure to see Ednovate in the next league of Companies which may change the definition of unicorn.”