Cuemath Delivers Math Instruction via At-Home Tutors at Price Points Affordable by All
December 16, 2014. New Delhi: Unitus Ventures (formerly Unitus Seed Fund), India’s leading venture seed fund supporting startups innovating for the masses, announced that it has completed the seed round investment in Cuemath, an upstart entry into the huge but highly-fragmented Rs. 150 lakh crore ($14B USD) “tuitions” after-school instruction market in India. Cuemath has over 25 learning centers operating after only 12 months of operations, and will use the new funds to expand operations to multiple states across India and to introduce additional offerings to its product line.
Disrupting a Fragmented Market delivers Better Learning Outcomes for All
The dismal outcomes from the majority of India’s 1 million+ government-run and affordable private schools has led parents to seek supplemental education for decades, creating the vast Rs. 150 lakh crore ($14B USD) “tuitions” market. Traditionally, tuitions have been available in two forms: expensive branded services delivered in classrooms, frequently using the same rote learning techniques found in India’s low-performing schools, and informal un-branded services delivered from the homes of current and retired teachers. Both types of tuitions lack in affordability for low- and mid-income families and/or in the ability to teach students on an individualized basis to meet their specific educational needs.
Cuemath is disrupting the status quo by providing after-school learning programs for Math and English with a unique distribution model: tapping the incremental efforts of women and senior citizens with basic academic backgrounds, and backing them with by custom-designed learning materials, both paper-based and technology-driven. Cuemath centers are small, home-based setups, with no more than 8 students in each session, ensuring personalized attention to the needs of each learner.
“Our students get a branded and high-quality experience that’s fun and produces better results,” said Manan Khurma, co-founder and CEO of Cuemath. “Additionally, teachers earn income on a flexible schedule, and parents can be confident their children have what they need to learn, at a price their family can afford.”
“Unlike traditional classroom-based tuitions providers, Cuemath is capital efficient and highly scalable, enabling rapid growth everywhere from tier-1 metros to the smallest rural village,” said Srikrishna Ramamoorthy, partner at Unitus Ventures (formerly Unitus Seed Fund). “We’re excited to provide seed capital and mentoring to help co-founders Manan and Jagjit grow Cuemath rapidly, bringing their superior learning outcomes to the masses in India.”
Unitus Capital was the financial advisor and Impact Law Ventures was the legal advisor on this transaction, advising Unitus Ventures (formerly Unitus Seed Fund).
Launched in 2013 by Manan Khurma and Jagjit Khurma, Cuemath’s mission is to make high-quality after-school learning affordable for the masses. The company’s core belief is that equipping our next generation of learners with sound Math and English skills will bring the opportunity of the knowledge economy to the roots of our society. Using a unique combination of paper-based worksheets, tablet-based interactive learning technology and skilled instructors, Cuemath’s programs are delivering superior learning outcomes at price points every family can afford. Cuemath is based in Bangalore, India. More about Cuemath >
About Unitus Ventures (formerly Unitus Seed Fund)
Unitus Ventures (formerly Unitus Seed Fund) is the leading venture seed fund supporting startups innovating for the masses in India. Unitus invests in healthcare, education, mobile commerce & value-added services, marketplaces & e-commerce, retail & distribution, agriculture, and water & energy sectors. Founded in 2012, Unitus Ventures (formerly Unitus Seed Fund) is part of the Unitus Group, a premier financial services group operating in India and other emerging markets since 2000. Unitus Ventures (formerly Unitus Seed Fund) is based in Bangalore and Seattle. More about Unitus Ventures (formerly Unitus Seed Fund) >
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