UAE's Alpha Wave invests in India-based ClassPlus

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Hind Al Soulia - Riyadh - UAE's Alpha Wave invests in India-based ClassPlus

News • 22 September, 2020

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Source: VCCircle

Education-technology platform Classplus has raised a little over Rs 75 crore (around $10.2 million) at current exchange rates) as part of a new funding round.

Classplus, operated by Bunch Microtechnologies Pvt. Ltd, secured the funding from investors including Alpha Wave Incubation and existing backers RTP Global and Blume Ventures, Entrackr reported, citing regulatory filings.

The coaching centre-focussed startup raised over Rs 56 crore from Alpha Wave in the new round. Blume and RTP committed Rs 11.26 crore and Rs 7.5 crore, respectively, according to the report.

This round comes after the Noida-based company mopped up around Rs 73 crore in May in a Series A round. RTP Global led the infusion, with other participants including Blume, Spiral Ventures, Strive and Sequoia Capital India’s startup accelerator platform Surge.

Previously, Classplus had raised around Rs 17.8 crore in a pre-Series A round from Blume and Surge. Angel investors including Kunal Shah, Alvin Tse, and Locus Ventures partner Eric Kwan also participated.

The ed-tech company operates a mobile-first, software-as-a-service (SaaS) platform for private coaching centres. It helps these centres take their business online and streamline their business functions including communication, content distribution, payments and online assessments.

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