Hyderabad-based mobile learning management platform Byndr announced raising of funds worth USD 700,000 in seed funding from the Education Design Studio (premier Ed-tech accelerator at the University of Pennsylvania), Ben Franklin Technology Partners, and a group of angel investors.
The firm will utilize these funds to expand its sales and development team and grow the product scope in terms of giving more access to educational content for students and providing more administrative features for colleges.
Byndr has grown rapidly since its launch, and is now used by more than 50 top colleges in India and has a total installed base of over 50,000 students on its platform.
"In 2017 it is projected that 80 percent of the internet users in India will be mobile. So the only way to truly create a single point of access for students in mobile-dependent markets like India is with a mobile-first product," said Co-founder and CEO, Joseph Freed.
"With Byndr, students stay engaged and connected to educational resources outside the classroom, enabling the concept of anytime and anywhere learning with a fast and light platform. This round of funding will allow us to accelerate expansion and continue providing easy-to- use, and mobile-first products for all stakeholders in higher education," added Joseph Freed.
Bobbi Kurshan, Executive Director of Academic Innovations at The University of Pennsylvania GSE, and Chairman of the Education Design Studio, which participated in this round said, "Byndr is changing the LMS model. It is creating a solution for emerging economies with lack of persistent internet, lower cost points and need for a lightweight solution. The new funding will be used to support and continue to grow the excellent team and to help expand the impact of this unique mobile solution across India and other emerging Ed-tech ecosystems.