Edtech startup Klassroom planning to raise $2 million

(UNI) EdTech startup Fusion Klassroom Edutech Pvt Ltd, which raised 250,000 dollars in December 2017, now plans to raise a further 2 million dollars to cater to its expansion plan.
With this funding Klassroom has already expanded to a network of 120 smart coaching centers and 10 fully controlled flagship centers across Mumbai with a capacity of more than 15,000 students per year.
With over 10,000 in-center visits of parents-students in this academic year in Mumbai alone, Klassroom now has reach of more than a million students. It houses a team of 35 dynamic experts and is in the process of
quickly adding team members at multiple levels. Reaping rewards of the superlative technology setup and marketing initiatives, both online and outdoors, Klassroom has grown ten-fold YoY on multiple parameters including student capacity, number of enquiries, reach and revenue.
The company is now planning to raise further 2 million dollars and is in advance stage of discussion with VC funds and ultra HNIs. This funding will help the company grow to a network of 450+ Klassroom centers within 12 months including 325 smart centers and 130 flagship centers building up capacity of 50,000 students across 5 cities to become the largest network of branded coaching classes in India.
It is targeting 10x growth by 2020 by focusing on outreach marketing, building fully controlled flagship centers and continuous technology upgrade.
By 2022, Klassroom’s plans to have a Pan India presence, spanning across 20 cities, acquiring 150k admissions with a projected revenue of 100 million dollars and a network of 2100 Klassroom centers (1500 smart centers and 700 flagship centers) with a hybrid (online + offline) business model.
Today, the biggest network of traditional coaching classes, MT Educare’s Mahesh Tutorials (IPO launched in 2012), with network of 276 centres houses approximately 1.5 lakh students per year while Byju’s, who recently raised 400 million dollars from Nasper and others, is an online tutoring platform.