Edtech platform Ulipsu raises 3.2 million USD amidst a funding winter; Closes its ‘Pre-series A round’ with a total of 5.7 million USD at a valuation of 50 million USD!
Plans to accelerate growth & operations with aggressive market expansion, product diversification, and vigorous talent acquisition in the next few months
Bengaluru, May 24, 2023:
Ulipsu, an edtech startup and India's first multi-skill learning platform, has made a mark by raising a fresh round of 3.2 million USD amidst the funding winter that has negatively impacted the edtech industry. With this, the edtech start-up has successfully closed the Pre-Series A Round with a total of 5.7 million USD! The fresh round was raised at a valuation of 50 million USD! Existing investors along with HNIs from the Middle East and Canada participated in this round. The round also saw a secondary sale of 225K USD for the seed investors.
With the new funds, Ulipsu plans to accelerate its growth and operations by expanding its footprint in domestic and global markets and diversifying its product portfolio with new offerings to meet the evolving requirements of schools and parents. The company is also going bullish on new talent acquisition to support the growth spurt expected in the coming year.
Ulipsu, a brand of Kidvento Education and Research Private Limited, was launched in 2022 and has since taken an interesting growth path. Ulipsu today is being used in over 200 schools across India as their trusted ‘Skilling Partner’ in providing a world-class, standardized skilling curriculum. And now it is all fueled to onboard 1000+ schools across the country by the end of this academic year. The brand is also gearing up to mark its presence on the global map with Middle East expansions this year.
Ulipsu is India’s largest curated skilling platform for young minds, offering 350+ courses covering 15 vital skills. The product offered by Ulipsu is an ideal solution for schools that are struggling to standardise skilling education along with academics.
Ulipsu offers a plug-and-play learning infrastructure that provides schools with a unique opportunity to introduce vital skills like Art and Craft, Language and Communication, Coding, Artificial Intelligence, Finance and Entrepreneurship, Life Skills, Life Sciences, Electronics, Math, Music, Yoga and many more to their students. This is a first-of-its-kind solution in the Indian schooling space.
The announcement of funding for Ulipsu comes at a time when the edtech sector has hit a rough patch with a funding winter that saw a 93% dip in edtech funding in 2023.
Ulipsu is set to achieve a year-on year growth of 500% till FY 25 and then stabilize with a Y-O-Y growth of 200%-300%. The first profit is expected to be achieved in FY 26.
Expressing his optimism over the new round of funding, Sumanth Prabhu, Co-founder and CEO of Ulipsu, said, "Ulipsu’s brand proposition, NEP-aligned product offering, and consumer trust have continued to fuel the growth of the company.”
Highlighting the product fit of Ulipsu, Sumanth further added that "It is widely acknowledged that skills are just as vital as academics, but there is no standardised skilling curriculum in schools. Pioneering the solution for this problem, Ulipsu is providing global standard content and curriculum for 15+ skills with assessments, projects, and skill reports. With NEP advocating the importance of skill development, schools are finding immense value in Ulipsu, and we see a significant market opportunity both within India and overseas."
Nikhil Bhaskar, co-founder and CTO, said, "Today’s youngsters are passionate, curious, and ever ready to learn. All they need is a curated and safe platform like Ulipsu. We have had a patient journey in building Ulipsu over the years, and it is paying off well now. In the coming 3-5 years, Ulipsu will benchmark itself as a new way of learning as our pedagogy and engagements are extremely unique."
One of the earliest investors in Ulipsu Srajan Shetty said. “Ulipsu’s planned product development, healthy tractions, strong unit economics and the probability of it becoming one of the major players in the K–12 space in the next 2-3 years have enabled the brand to raise a fresh round of investments this season. The beauty of the product is its versatility which is enabling us to reach the remotest part of India as well as a young mind in a Metro city.”
Ulipsu is headquartered in Bengaluru and has a full-scale content creation and production unit in Mysuru with a total team of 150+ passionate individuals.
About Ulipsu
Ulipsu is a leading K12 edtech brand & India’s first versatile multipotential OTT like learning platform, founded by Sumanth Prabhu and Nikhil Bhaskar in 2022. Ulipsu offers structured skill-based learning opportunities for all children from ages 6 to 16. With its unique offering of plug-and-play, NEP-aligned, holistic skill development learning infrastructure for schools and students, Ulipsu is all set to revolutionize learning in India and beyond.With the brand positioning of ‘Learn what you wish to’, Ulipsu is committed to the idea of democratizing learning, which lets young people truly explore and learn at their own pace and space.
Ulipsu's parent company, Kidvento Education and Research Pvt. Ltd., was founded in 2017 and has worked with over 350 schools to provide various teaching and learning solutions. Kidvento has been a recipient of various prestigious awards, like the ELEVATE 2018 Award from the Government of Karnataka, TIECON by the TIE Foundation, and many more. At the moment, Kidvento employs more than 150 people and generates over $1.5 million USD in sales annually.
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