Bengaluru edtech segment has hit the headlines. Startup ODA Class has successfully raised $500,000 in Series B funding round participated by international investors such as Skywalker Education Technology Co. Ltd. from Singapore, Daituzi Education Technology Corporation Limited from China and Matrix Partners from China too. The fresh capital is another milestone for the startup and its total funding now stands at $12.75 million.
ODA Class was founded in 2019 and since then has shown a steady journey of growth as well as investment. It secured an undisclosed amount from Yuanfudao, a leading education technology firm from China, in its pre-Series A round in March 2020. Later, in 2021, it raised $9 million funding. In 2022, the startup raised $3 million. Similarly, it raised an additional $250,000 in 2023. The financial injections are crucial to expand offerings and reach a wider audience.
ODA Class specializes in providing live online courses for students from grades 1 to 10. It uses AI technologies and innovative marketing strategies to deliver high-quality education and at accessible rates. It currently has more than 25,000 long-term students and aims to enroll 100,000 students in 2024.
The latest funding is learned to be used strategically and bolster the digital marketing efforts of the company. It will enhance brand visibility and reach a broader audience.
The financial performance of ODA Class simultaneously reflects its rapid growth. It reported revenues of ₹26.90 crore for FY22 and it surged to ₹63.76 crore in FY23 and further increased to ₹65.81 crore in FY24. Simultaneously, the ODA Class has been successful in optimizing its expenditures, which were reported at ₹79.20 crore in FY22, ₹107.81 crore in FY23, and reduced to ₹85.20 crore in FY24.
