Teachmint

Teachmint is an Indian online education platform launched in May 2020. The application allows you to create classrooms, conduct lessons, lectures, seminars, master classes, tests and exams, celebrate the present and absent students, share methodological material, create a schedule of classes, engage in tutoring, as well as write bills and charge fees for paid lessons.

The company was founded by graduates of the Indian Institute of Technology of Bombay and the Indian Institute of Technology in Delhi Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar.

History

2021

Attracting $78 million of investments

On October 25, 2021 startup , Teachmint, which helps teachers and institutes create their own virtual classrooms with several clicks on smartphone and build direct relations with students, announced an attracted investment of $78 million. Funds Rocketship.vc and Vulcan Capital jointly led the new Series B funding round.

According to TechCrunch sources familiar with the issue, according to the results of this transaction, the startup was valued at $500 million. Teachmint co-founder and CEO Mihir Gupta, confirmed the size of the new funding round. According to him, Goodwater Capital and Epiq Capital, as well as existing investors Learn Capital, Lightspeed India, Better Capital and a fund with Russian roots CM Ventures founded by Nikolai Dyachkov, also took part in the round.

Russians invested in Indian platform for video lessons Teachmint

Teachmint, which began just weeks after the pandemic began, creates what it calls an educational space for teachers in India to help them conduct online lessons, virtually communicate with students, give them tasks, monitor attendance, and collect fees. This approach differs from giants in educational technologies such as Byju's, Unacademy and Vedantu, where teachers have no direct relationship with their students.

Teachmint has solved a hidden technological problem in the education sector and has every opportunity to scale its supply globally. Strong leadership combined with passion and conviction about the need to solve this problem leads us to believe in this company. We are glad to be on this missile ship, "said Madhu Shalini Iyer, partner of Rocketship.vc Madhu.

According to the CEO of Teachmint, there are more than 10 million users in the country, he noted that he also offers his services of the educational space to many educational institutions and says that they are used by more than 4 thousand institutions in India and abroad. For the company, the Indian online education market with more than 200 million children attending school is at stake. According to analysts at Goldman Sachs, by 2025 this market will generate revenue of $5 billion, compared to $1 billion for 2020.

Startup Teachmint said it will direct fresh capital to hire talented employees for positions related to product, technology and design and will soon offer its employees the largest stock repurchase option.^[1]

Attracting $20 million of investments

In early July 2021, Teachmint announced the attraction of $20 million in investments. This round of funding for the Indian startup was the fourth in just 12 months since its inception.

The main investor in the transaction, announced in July 2021, was the American fund Learn Capital. He was joined by a fund with Russian roots CM Ventures. Teachmint intends to spend the funds received on the further development of its technology, the development of new markets and an increase in the number of staff.

Fund with Russian roots CM Ventures invested in Indian online learning platform Teachmint

By June 2021, the Teachmint platform had 5 million users and more than 1 million teachers from 5 thousand cities. The application took first place in the ranking of free educational programs in the Google Play Store in India.

This is the second round of Teachmint funding in which CM Ventures takes part. In May 2021, the Indian company raised $16.5 million from Learn Capital funds with the participation of CM Ventures, Lightspeed and Better Capital.

The CM Ventures Fund was founded in 2020 by Nikolai Dyachkov, who worked as an analyst and investment manager at USM Advisors, as well as Vagan Hranyan, a native of Goldman Sachs and USM Holdings. Headquartered in London.^[2][3]

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