Home Business Indian edtech startup Supernova raises $1.1M in pre-seed funding even as Indian startup funding hits 2-year low

Indian edtech startup Supernova raises $1.1M in pre-seed funding even as Indian startup funding hits 2-year low

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Indian edtech startup Supernova raises $1.1M in pre-seed funding even as Indian startup funding hits 2-year low

  • Kae Capital, All-in Capital, Goodwater Capital etc took part in the round.
  • Aimed at children aged 4-12 years, supernovaThe live quizzes are designed to cover topics through 30 minute interactive sessions.
  • The online education market in India – which includes K12, higher education and lifelong learning or upskilling – is currently about $1.9 billion.

Supernova, and Indian edtech startup, said Thursday it had raised $1.1 million in a pre-seed funding round led by Lumikaican Indian venture capitalist in gaming and interactive media.

Other investors participating in the round include Kae Capital, All In Capital, Goodwater Capital and prominent angel investors – Nandan Reddy and Phani Kishan – founders of Swiggy; Nitin Gupta – founder of PayU and Uni; Prashan Aggarwal – ex-CEO of Gaana; and Tanay Tayal – founder of Moonfrog labs.

The funding comes at a time when funding for Indian startups is
low in two years at $2.7 billion in Q3, according to PwC report
Startup Deals Tracker-Q3 CY22.

However,
PwC states that “financing in the Indian edtech segment has shown a positive trend in Q3 CY22 compared to the previous quarter (in terms of value).”

Supernova was founded in 2021 by Anirudh, Nawin and Maharishi. Targeting children aged 4-12, the edtech company aims to redefine current passive forms of learning by making learning more engaging and fun.

Supernova creates live quizzes in interactive game formats on various CBSE topics for students from Grade 1 to Grade 8. Live quizzes, “Byte-Sized” lessons, and worksheets on CBSE topics are accessible on Supernova.

“Today’s children are born into a world of smartphones and highly engaging digital experiences, so they look for the same level of involvement in their learning experiences. As a result, education is undergoing a generational shift towards user-centricity,” said Maharishi RB, co-founder of Supernova.

Their live quizzes aim to cover topics through 30 minute interactive sessions.

The online education market, which includes K12, higher education and lifelong learning or upskilling in India, is currently about
$1.9 billion.

“We believe that gaming systems and gaming best practices have the potential to unlock massive disruptions in edtech. Supernova takes a first-principle approach to a huge opportunity with a new platform that reimagines children’s education by harnessing the power of experiential, game-based “learning by doing,” Justin Shriram Keeling, founder of the Lumikai Fund said.

With the money raised, Supernova will further develop and scale the product to include multiplayer formats, strengthen the leadership team and implement strategies that will strengthen product lead acquisition over the next 18 months.

“Traditional edtech models characterized by high customer acquisition costs, prohibitively expensive courses and poor learning outcomes are unsustainable,” Sunitha ViswanathanPartner, said Kae Capital.

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