Kerala startup strikes pre-seed funding deal with UAE angel investors
Within a short time, INTERVAL, mentored by the Kerala Startup Mission (KSUM), has expanded its customer base to over 30 countries, fostering a robust community of customers in India and GCC countries
A Kerala-based one-to-one online learning platform, said it has raised Rs 22.50 million ($274,422) in a pre-seed fundraising round headed by prominent angel investors from the UAE.
The funding will be used by the startup, which encompasses over 1,000 academic and non-academic courses, to accelerate its growth trajectory, besides expanding reach and enhancing product offerings.
“Their [UAE-based angel investors] in INTERVAL’s vision and value proposition underscores the company’s potential to disrupt the edtech market and make a lasting impact in the education sector, Ramees Ali, co-founder and CEO of INTERVAL, said.
“With the support of our investors, we are confident in our ability to transform the learning experience for children and empower them to realise their full potential,” he added.
A learning platform for children in the K-12 sector (from kindergarten to plus-two), the startup, founded in 2021 by five youngsters – Ramees Ali, Sanafir O K, Najim Illyas, Shibily Ameen, and Aslah Thadathil, offers personalised classes to students.
Within a short time, INTERVAL, mentored by the Kerala Startup Mission (KSUM), has expanded its customer base to over 30 countries, fostering a robust community of customers in India and GCC countries.
The K-12 edtech startup has succeeded in achieving a hefty revenue of over Rs 80 million in the last fiscal.
The pre-series funding will be primarily utilised to strengthen technology infrastructure, onboard more skilled teachers, and develop new educational content to further enrich the learning experience for students, Ramees said.
“Through our unique one-to-one teaching methodology, we ensure that each student receives individual attention thereby enabling a customised learning experience tailored to their specific needs and aspirations”, he said.
KSUM is the nodal agency of the Kerala Government for entrepreneurship development and incubation activities in the state.
