New Delhi [India], Feb 26 (ANI): Ed-Tech company, Avishkaar Box, on Monday announced that it has raised Rs 5 crores in pre-series A funding from Auxano Deals. The company intends to use these funds to strengthen its presence pan-India and for a rapid expansion in Asia.
Avishkaar Box was introduced to Auxano by Rahul Gupta of Radar Capital on this transaction. The deal values Avishkaar at around USD 4 million.
With this investment, founder and CEO, Tarun Bhalla, plans to propel Avishkaar Box to bring about a revolution in Science, Technology, Engineering and Mathematics (STEM) learning, not only in India but also in the Asian and middle-eastern markets, with an expansion.
"We are experiencing exponential growth, and we need to hire energetic and focused people who can drive it. Along with this, our product team is all set to launch a fabulous product range with more focus on the entry level of this market," said Bhalla.
"The company is also looking to strengthen its channel partner network especially in Karnataka, West Bengal, Odisha and other parts of east and south India. We are confident that we will double company's turnover to USD 3 million within two years from USD 1.5 million in the current year," he added.
Avishkaar Box is one of the foremost players to set up Atal Tinkering Labs (ATL), a project of the government of India which includes supplies of education tinkering and robotic kits to over 2,400 schools across India.
The company has also been conducting the IRC League, a league that aims to challenge young and creative minds by giving them problems to solve and build a better world for tomorrow using tools of science and technology, since 2009.
At present, Avishkaar Box has a presence in more than 400 schools pan-India in addition to 125 Tinkering Labs set up across the country. (ANI)
This story has not been edited. It has been published as provided by ANI