By Inc42 Media
English tutoring platform Clapingo has secured INR 2.2 Cr in a Pre-Series A funding round from a clutch of investors, including Sandeep Aggarwal (founder of Droom and ShopClues), Biswa Kalyan Rath (comedian and writer) and Appurv Gupta (comedian and satirist).
Confirming the development to Inc42, Clapingo’s cofounder and chief executive Abhishek KG has said that the fresh funds will be used to fuel the startup’s marketing efforts to expand its user base.
Besides, the proceeds will be deployed to enhance the company’s product offerings, particularly around developing a fluency report system on the platform for prompt and precise feedback to customers, he added.
Entrackr reported the development first.
Founded by Sameer Agrawal and Abhishek KG in 2021, Clapingo offers online person-to-person spoken English classes. It has its offerings around peer-led and tutor-led models. Its service starts from INR 999 per month. It has a presence across India and the Middle East.
Abhishek KG further told Inc42 that the company logged 1.5 Cr, INR 8 Cr and INR 14 Cr in 2021, 2022 and 2023, respectively.
It competes against Teachmint, upGrade, Unacademy and Vedantu among others in the broader B2C edtech segment.
This comes at a time when the Indian edtech sector is undergoing the most uncertain times on the back of waning investor interest, weak governance guardrails, hefty cash burns, and mounting losses by many of the top edtech startups.
According to Inc42’s Indian Tech Startup Funding Report 2023, the Indian edtech startups could only secure a mere $283 Mn in 2023 compared to $2.4 Bn in 2022, registering a massive 88% year-on-year (YoY) decline. Also, the number of deals declined 45.91% YoY to 139 from 257 in 2022.