Lightbox leads $7.2 Mn in edtech startup Flinto - Cyber Suggest
Flinto, which focuses on activity-based learning for kids, has secured $7.2 million in a pre-Series B round led by its existing backer Lightbox Ventures.
The latest financing round for Flinto has been materialized almost two-and-half years. The Chennai-based company had picked up $7 million Series A funds from Lightbox and Ashwin Chadha, among others in December 2017.
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| Lightbox leads $7.2 Mn in edtech startup Flinto - Cyber Suggest |
With the latest proceeds, Flinto is eyeing to support its growth in the early learning space and expand its newly-launched preschool solution during the Covid-19 pandemic, stated the company in a statement.
Founded in 2013 by Arunprasad, Shreenidhi Srirangam, and Vijay Gandhi, Flinto is an activity box for children of age from 2 to 12 years delivered at the doorstep to subscribers every month. Each box offers play-based activities such as painting, drawing, and games, which is designed to promote early child development with fun.
It also comprises a curriculum for preschoolers, daily lesson plans, online teacher training facilities, classroom posters, and an app for parents. The platform claims to have served 10.49 lakh parents and over 700 pre-schools in the last 1.5 years across eight countries.
To date, the company has raised nearly $15 million across mixed rounds of debt and equity. While the Covid-19 pandemic has disrupted the operations of the majority of the businesses, edtech has been witnessing extraordinary growth due to the closure of offline classes.
The spurt in growth also triggered the interest of existing and new investors to double down their bets in the segment. Byju’s raised three rounds of funding in 2020 and was valued at $10.5 billion in recent financing from BOND Capital. Unacademy also scooped up $110 million in February while Vedantu picked up $37 million across two tranches this year.
Tencent and Sequoia-backed Byju’s is in an advanced stage to acquire Doubtnut in a deal worth over $100 million. If the deal goes through, it will give Byju’s a fillip in the supplementary education segment. Entrackr had exclusively reported the talks last month.
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