Math learning startup Cuemath has raised $15 million in its Series B round of funding from CapitalG and Sequoia India. CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google’s parent company), led this round of funding.
When asked about the rationale behind this investment, Kaushik Anand, CapitalG’s Head of India Investments, said, “We believe technology can help solve the strong desire and need for quality education. And Cuemath has scaled with great unit economics and capital efficiency. We are happy to be supporting Cuemath on the quest of transforming the way math is experienced by children across the globe.”
Cuemath is an after-school math excellence programme for children in KG to grade 8, and is offered through home-based centres. Founded in 2013, Cuemath now has over 2,000 centres educating more than 10,000 students across the country. By March 2018, Cuemath aims to establish 5,000 centres and enrol 40,000 children in the programme. The funds raised will be utilised towards making the learning system more powerful .
According to Cuemath’s founder and CEO Manan Khurma, “Math is the skill of the future. Given the way technology is evolving, the most valuable ability in just a few years from now will be that of complex problem-solving, and the best way to build that ability is to build a strong and holistic math foundation. Cuemath takes math excellence to a wholly different level.”
Published 23 January 2017, 18:05 IST