Gurgaon-headquartered RNM E-Services Pvt Ltd, which own and operates an educational innovative digital platform, iChamp, has raised an undisclosed amount of funding in a pre series-A round led by Singapore-based Ariana Investment Management’s CEO Raju Shukla.
The startup will use the freshly raised funds in technology upgradation, expanding its product offerings and to diversify into more subjects and classes across various curriculum in the coming months.
iChamp has earlier raised undisclosed amount in November last year. That sedd round was led by Anuj Gupta and Mohit Agarwal, founders of Adda52.com, India’s largest poker online poker platform.
Speaking about the funding, Mohit Bansal, Founder, iChamp said, “Even though the quality of teaching has improved in private schools across India, kids still have a fear of Mathematics. There is a clear lack of motivation among kids, which leads to lack of practice. Solving this problem of self-motivation is the key to better learning outcomes. iChamp uses elements of gamification like real-time challenges, rewards, competition, fun and social engagement to motivate a child to practice more."
"We are extremely happy with the funding this venture has received. In the coming months we are looking to aggressively expand our user base and improve retention, through features like Live Tournaments and AI enabled adaptive tests," he said.
Mr. Raju Shukla, CEO of Ariana Investment
Management commented, “iChamp is one of its kind app in India, focusing
solely on the otherwise ignored need for students to practice more. We
see great potential in this segment. It is a completely new way of
looking into the real problems affecting the Indian education system”.
Launched last year, iChamp is a unique platform for students to practice and solve Maths and English problems in a fun way. It is India’s only truly gamified education platform, integrating the key features of gamification – namely competition, rewards/recognition, and fun. This sets iChamp apart from other education portals in India, that focus only on animation.
So far, the startup has raised a total of $5 million within a year of its launch.
Source - Business World