Founded in July 2020, Creative Galileo, an Edtech platform for kids has raised $7.5 million (about Rs 60 crore) in a funding round organised by a bunch of investors including Kalaari Capita, according to the tech firm on Thursday. Other companies including Affirma Capital, East Ventures, Valiant Employee Investment Fund, and angel investors also participated in the Series A funding round.
When adding the pre-series A round of $2.5 million in July of the previous year, Creative Galileo's total funding has now raised a total of $10 million. However, the company has raised three-fold higher compared to its around $12.5 million valuation in July last year, said Creating Galileo founder Prerna A Jhunjhunwala, with fresh funds at a valuation of $40 million.
The company said that they will use the newly infused funds to scale up, accelerate hiring across the teams in multiple geographies, introduce regional languages and further strengthen the research and development of the platform, however, it claims to already have over 7 million downloads.
"Subscriber acquisition cost for more Edtech companies is at a very high rate but for us, it continues to be Rs 1.5 because of which our growth has been very organic. We have enough capital in the bank now to focus on regionalisation of our product and launch in regional languages and also to launch in the international market," Jhunjhunwala said.
She said that they will launch new products to make the learning journey for children more personalised. Creative Galileo is a character-based early learning platform for kids aged 3-10 years. The company plans to double its team from 30 to over 60 in a year.
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