Kyt, an online education platform announced that it has raised $5 million in a Series A funding round. The investment is led by Alpha Wave Incubation (AWI), a venture fund managed by Falcon Edge Capital and saw participation from Sequoia Capital India’s Surge, January Capital, Titan Capital and other angel investors. Kyt claims to be the first Indian company to receive investment from Singapore-based January Capital.
Kyt in a statement said it will use these funds for expansion Abu Dhabi and setup the Emirates as its regional headquarters for targeting the Gulf Cooperation Council (GCC), Middle East/North Africa and other global markets. Kyt is also planning to build a world-class team of data scientists, product managers and engineers located in Abu Dhabi.
Kyt was launched in June 2020 by former Uber Eats India head Bhavish Rathod and wife Tripti Ahuja. Kyt offers online workshops and courses in dance, music, chess, musical instruments, yoga, public speaking and creative writing courses by combining live classes with video-based revision materials for children from ages 5 to 15 years, in a full-stack model.
Bhavik Rathod, co-founder and CEO said, “With Kyt, we are going beyond the conventional academic learning by building an academy that nurtures holistic and all-round development of children. It is essential to foster children’s interests and encourage learning that equips them with creative and real-world skills; thereby moulding their individual strengths and making them more confident. This new investment will greatly boost our efforts in providing a well-structured curriculum, designed by pedagogy experts and education consultants to help each child realize his/her potential.”
Kyt is looking forward to scaling its operations in the US, Canada, UK and Australia as it already has students from India, UAE and Singapore.
The platform provides a proper mix of training, assessment, feedback, and encouragement. With animated videos and games, the platform encourages kids to practice more and learn better.
“Extra-curricular learning is a critical aspect of a well-rounded education. Kyt has made it possible for students from every corner of the world to access quality learning from best-in-class teachers and practitioners in each field,” said Utsav Mitra, Investor at Falcon Edge Capital.
Kyt plans to increase the teacher strength from 20+ to about 500 and add more courses in the upcoming year.