The startup has raised two rounds of Pre-series A funding of 2.5 million USD since the launch
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Bengaluru based Ulipsu, India's first multipotential OTT like learning platform, from Kidvento Education and Research Private Limited, recently raised $1.5 million in funding from angel investors based in the Middle East and the UK. This round of investment comes as an addition to the initial $1 million USD Pre-Series A round funding received in October 2021. With this, the Pre-Series A round of fundraising has amounted to a total of 2.5 million USD.
Ulipsu Founders – CEO, Sumanth Prabhu and CTO, Nikhil Bhaskar
The current round of fundraising will be used to improve overall product service, boost consumer engagement through strengthening the technology stack, gamification, and analytics for real-time user data evaluation, scale operations, and increase sales via new consumer acquisition initiatives.
The first round of funding was utilized for content, curriculum research and development, acquiring an initial set of customers, and building the platform.
Screens have become an undeniable part of children, and, therefore, Ulipsu is on a mission to create a healthy relationship by transforming passive screen time into active screen time with age-appropriate, engaging learning content.
The brand offers structured learning opportunities for all children from ages 6 to 16. The vast repertoire of curated ‘bit-sized’ courses covers 10+ skills, from music to art & craft, yoga to life skills, STEM projects to artificial intelligence, and many more, in just one subscription. Ulipsu courses also align with the National Education Policy (NEP) of holistic child development and digital learning inclusion.
With the brand positioning of ‘Learn what you wish to’, Ulipsu is committed to the idea of democratizing learning, which lets young ones truly explore and learn at their own pace and space. Ulipsu subscriptions are cost effective and don’t require parents to pay separately for each of the courses.
Ulipsu is ever-growing, with new courses uploaded every week that are accessible through a single subscription. Ulipsu plans to have over 300 courses spanning 15+ skills by March 2023 and aims to secure over 300,000 paid subscribers by the middle of 2023.
At the moment, Kidvento employs more than 100 people and generates close to 1 million USD in sales annually.
Expressing his optimism over the new round of funding, Sumanth Prabhu, Co-founder & CEO of Ulipsu said, “Education as a market has been a hotbed of experimentation, and the Indian consumers are leading the market in style with their mature understanding of the product differentiation and value available to them. In that sense, we are at the right place at the right time. Our investors clearly understand this and strongly believe in the possibility of what Ulipsu could be! In 2 years, we will be the world's largest curated platform for skill learning for young minds.“
Nikhil Bhaskar, Co-founder & CTO, said, “We have a competitive advantage in the skill learning market as we truly understand our TG, whether it is the product or the technology. We are delighted that our investors find value in our business proposition. We are currently strengthening our product portfolio with a focus on technology-driven gamified content.” |
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