Edtech firm ODA Class raises $500K from Singapore, China-based investors

Edtech firm ODA Class said on Thursday it has raised $500 thousand (about Rs 4 crore) in a fresh funding round from Singapore and China-based investors.

Skywalker Education Technology Co Ltd. (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited, and Matrix Partners China invested in ODA Class during the series B funding round.

"ODA Class has announced the completion of its series B funding round by securing $ 5,00,000. The company is supported by investors who believe in its mission, including Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China," ODA Class said in a statement.

With this fresh funding round, the edtech firm has raised $12.75 million (about Rs 106 crore) from investors.

The company raised $9 million in 2021, $3 million in 2022 and an additional $ 2,50,000 in 2023

"With the latest funding, we are well-positioned to enhance our technological capabilities... Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country," ODA Class, Finance Head, Neeraj Kumar said.

The company reported a revenue increase to Rs 65.81 crore in FY 2023-24, up from Rs 26.9 crore in FY 2021-22.

"In parallel, the company remains committed to optimising its expenditures, with costs reported at Rs 79.20 crore in FY 2021-22, Rs 107.81 crore in FY 2022-23, and Rs 85.20 crore in FY 2023-24," the statement said.