ODA Class Secures $500,000 in Series B Funding for Edtech Innovation

Edtech company ODA Class has successfully raised USD 500,000 in its latest series B funding round, with significant contributions from Skywalker Education Technology (Singapore), Daituzi Education Technology Corporation Limited (Hong Kong), and Matrix Partners China. The new funding elevates ODA Class's total investment to USD 12.75 million, aiming to bolster technological capabilities focused on AI integration and digital marketing.

Edtech firm ODA Class announced on Thursday that it has successfully raised USD 500,000 (about Rs 4 crore) in a recent series B funding round from investors based in Singapore and China.

Prominent contributors in this funding round include Skywalker Education Technology Co Ltd. (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited, and Matrix Partners China.

According to ODA Class, the fresh investment brings the company's total funding to USD 12.75 million (about Rs 106 crore). The firm plans to use the new funds to enhance its technological capabilities, specifically focusing on AI integration and digital marketing, in order to deliver accessible and quality education across the country. Finance Head Neeraj Kumar highlighted the company's commitment to these advancements.

ODA Class has shown robust financial growth, reporting revenues of Rs 65.81 crore in FY 2023-24 compared to Rs 26.9 crore in FY 2021-22. However, the company also noted significant expenditures, with costs of Rs 79.20 crore reported in FY 2021-22, Rs 107.81 crore in FY 2022-23, and Rs 85.20 crore in FY 2023-24.

(With inputs from agencies.)