Novoy Software is a private Ltd Company which is operating a Vernacular language-focused platform- Entri.
Recently, it has raised an additional amount by investing $1.7 million which is a part of the pre-series funding round. In February also it had raised around $1.4 million.
The whole process of funding has been led by early-stage investment from good capital.
Other who participated in Entri’s funding includes Angel Investors from India and the US, Kashyap Deorah founder of HyperTrack and BigBasket.
Entri- Edutech Platform
Entri is an edutech platform founded in 2017 by- Rahul Ramesh and Muhammed Hisamuddin
The company aims to provide an educational platform for Job Aspirants. It offers the content to them such as Video lessons, mock tests in the local language of the aspirants.
It provides a helping hand to job aspirants to learn and understand lessons in their native language which is considerably more convenient for them to understand and study for the preparation of public and private jobs.
The founders believe that some people are more comfortable learning in their mother tongue rather than in English and this is the problem that they are aiming to solve.
Currently, about 2.3 million students are studying from Entri and they aim to reach approx 5 million users in next 6months.
Entri has observed a considerable rise in the number of students since the lockdown imposed in May due to the world pandemic.
Arjun Malhotra, partner of Good capital said that they were very confident in investing in Entri because they see potential in the project due to the local language segment.
The investment made in entri will be used primarily for producing content for students and increasing marketing operations.
Other deals in Ed-tech platforms
Since the nation-wide lockdown, the demand for educational platform has seen a good amount of growth which is fairly attracting the investors to invest in it.
Recently, D series funding round led by the US invested in Vedantu learning app which involves investments from Coatue Management, Flinto and iNurture.
The new ed-tech platform- School diary by uFony also received undisclosed amount of funding from The Chennai Angel Investors.
Unacdemy which is backed by likes of Facebook Inc. had its third acquisition of the year by receiving majority stake in mastree.
The most heavily funded edutech platform is Byju’s with value of around $1billion dollar.