Teachmint raises $3.5mn from Lightspeed India, others

Teachmint, an online teaching platform, on Thursday said it has raised USD 3.5 million (about Rs 25.9 crore) in seed funding, led by Lightspeed India and existing investors, Better Capital and Titan Capital.

Teachmint, an online teaching platform, on Thursday said it has raised USD 3.5 million (about Rs 25.9 crore) in seed funding, led by Lightspeed India and existing investors, Better Capital and Titan Capital. This is the second round of funding for Teachmint after it raised its first round in August this year, a statement said.

Teachmint will leverage this funding for building out its product suite, introducing additional offerings and increasing geographic reach to more tutors, it added. Launched in May this year by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar, Teachmint enables offline tutors to digitise their classrooms, engage online with existing students as well as reach out to a wider student base.

Teachmint has developed a mobile-first, video-first product that enables ease of content delivery, engagement and evaluation and business workflow tools. Within five months of launch, Teachmint has added more than 1.2 lakh tutors across over 1,000 cities and towns to its platform.

"Our mission is to enable millions of outstanding tutors in India to take their classes online by leveraging Teachmint as their tech backbone. We are thrilled to partner with Lightspeed and our existing investors to continue to ramp up access for tutors across the country and beyond," Mihir Gupta, co-founder and CEO at Teachmint said. Harsha Kumar, Partner at Lightspeed India, said India's tutoring and coaching market is estimated to be over USD 25 billion, and is fragmented into millions of tutors and coaching centres.

"Teachmint is ideally placed to not just enable this market but potentially expand it further. We are very excited to partner with the team who from day one have demonstrated product-first thinking and deep market understanding," Kumar added..