Talks are ongoing between Tiger Global and India-based edtech firm Classplus as the former hopes to champion Classplus’s $30 million funding round.
Now clocking five years since its launch, the new funding round, which is a mix of primary investment and secondary transactions, will place a valuation of over $250m on Classplus.
This new round follows quickly after a recent one in which GSV led a $30m funding effort. Prior to that, the firm has also raised over $10m in September 2020 from a different set of investors who valued the company at $73m at the time. Sources say that the terms of this new round are unclear as talks are still ongoing.
Classplus is the Shopify of education in India. It operates an online platform where educators who run various courses and coaching lessons can render their services, upload materials, and receive payments.
The startup currently serves hyperlocal tutorial centres which are popular in India. “Anyone who was born in a middle-class family here has likely attended these tuition classes,” Mukul Rustagi, co-founder and CEO of Classplus, told TechCrunch last year.
“These are typically small and medium setups that are run by teachers themselves. These teachers and coaching centres are very popular in their locality. They rarely do any marketing and students learn about them through word-of-mouth buzz,” he added.
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