- Company raised Pre Series ‘A’ funding from Auxano Deals to bring STEM-based Innovation programs to pan-Asia
Avishkaar Box, an Ed-Tech company, working on creating an ecosystem to create immersive learning experiences that encourage innovation, announced that it has raised Rs 5 crores in Pre Series ‘A’ funding from Auxano Deals. The company intends to use these funds to strengthen its presence pan-India and for a rapid expansion in Asia. AvishkaarBox was introduced to Auxano by Rahul Gupta of Radar Capital on this transaction. The deal values Avishkaar at around USD $4 Million.
With this investment, the Founder and CEO, TarunBhalla, plans to propel Avishkaar Box to bring about a revolution in the STEM(Science, Technology, Engineering and Mathematics) learning, not only in India but also expanding into other Asian and Middle-Eastern markets. He says, “We are experiencing exponential growth, and we need to hire energetic and focused people who can drive it. Along with this, our Product Team is all set to launch a fabulous product range with more focus on the entry level of this market.”
‘The company is also looking to strengthen its channel partner network especially in Karnataka, West Bengal, Odisha and other parts of East and South India. We are confident that we will double company’s turnover to $ 3 Million within two years from $ 1.5 Million in the current year’ he further added.
Avishkaar Box is one of the foremost players to set up Atal Tinkering Labs – (ATL) (a project of Govt. of India which includes supplies of Education tinkering and Robotic kits to over 2400 Schools across India). The company has also been conducting the IRC League, a league that aims to challenge young and creative minds by giving them problems to solve and build a better world for tomorrow using the tools of Science and Technology, since the year 2009.
At present, Avishkaar Box has a presence in more than 400 schools pan-India in addition to 125 Tinkering Labs set up (15% of the labs that have been established so far) across the country. Avishkaar Box inspired more than 40,000 students in the last year alone through its IRC League and various other innovation platforms.
Avishkaar was founded with a mission to strengthen Primary and Elementary Education in India by TarunBhalla. The company envisioned the Avishkaar Learning Programs (ALPs) with an aim to make the learning of Science, Technology, Engineering and Mathematics (STEM) concepts a fun-filled and engaging experience. Over the years the company has built a range of Products and Programs catering to various age groups from 6+ to 16+.