Bengaluru-based edtech startup ODA Class has raised $500K in its Series B funding round, backed by investors Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China.
This latest investment brings the total funding raised by ODA Class to $12.75 million. The company has seen a steady flow of investments, starting with an undisclosed amount from Yuanfudao, a major player in China’s education sector, in its pre-Series A round in March 2020. ODA Class followed this up with a $9 million raise in 2021, $3 million in 2022, and an additional $250K in 2023.
ODA Class plans to use the new funds to enhance its digital marketing efforts, aiming to increase brand visibility and attract a broader student base. The company, founded in 2019, offers live online courses for students from grades 1 to 10, utilizing AI technology and innovative marketing strategies to provide affordable, high-quality education.
With a teaching team composed of IIT and NIT graduates, ODA Class has already served over 25,000 long-term students. The company aims to enroll 100,000 students by 2024, while continuing to improve its learning platform.
Financially, ODA Class has shown significant growth, with revenues climbing from Rs 26.90 crore in FY22 to Rs 63.76 crore in FY23, and reaching Rs 65.81 crore in FY24. Concurrently, the company has optimized its expenditures, reporting costs of Rs 79.20 crore in FY22, Rs 107.81 crore in FY23, and Rs 85.20 crore in FY24.
