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Maths learning startup Bhanzu has raised $16.5 million in Series B funding round, led by Epiq Capital. Neelakantha Bhanu, founder and CEO, said that the firm will use this fund for expansion in the US and other markets.
The recent funding will also support Bhanzu’s approach to mathematics education, which departs from traditional rote methods. The startup’s AI-driven curriculum adapts to students’ learning styles, aiming to reduce maths anxiety and enhance problem-solving skills in small, interactive sessions.
Apart from Epiq Capital, Z3Partners, along with existing investors Lightspeed Ventures and Eight Roads took part in the funding round, according to a company press release.
Bhanzu had last raised $15 million in Series A round in September 2022. Series B is the second round of funding after the company has walked past the initial startup stage.
The company has reported 8 times growth since its last funding round and is now cash-flow positive, with expansion plans focused on the US market.
“Students’ enthusiasm and families’ trust are fuelling our journey, as demonstrated by a 5X increase in renewals,” said Bhanu, monikered as the world’s fastest human calculator.
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“The US maths education market has significant potential, but it is dominated by large, billion-dollar companies that have not innovated their curricula or effectively embraced technology. This gap creates a significant opportunity for Bhanzu to revolutionise maths education in the US,” he said.
The company has established a market presence in India, the US, the UK, and the Middle East. Currently, it offers courses for students from kindergarten to classes 9 and above, according to the press release.
“This investment fits into our thesis of outcome-driven education where the strength of the product drives growth. This is evident in the positive unit economics and global growth being witnessed by the company,” said Rishi Maheshwari, Managing Partner, Z3Partners.
“We believe the company is currently at an inflection point to turbocharge growth in a profitable and sustainable manner,” he said.
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