The company will use the fresh funds for product, distribution and strengthening its vertical presence
Edtech startup Freadom has raised $2.5 million in a fresh funding round. The round was led by Capital A and other angle investors such as Tiger Shroff, Ashneer Grover, founder, BharatPe, Lalit Agarwal, founder, VMart Retail, and Aakash Moondhara, global CFO, PayU, among others. In addition, existing investors including Unreasonable Capital, Quantiphi founding team, and Singapore Angels group, also participated in the round. The company will use the fresh funds to invest in product, distribution and further strengthen Freadom’s vertical presence across stakeholders for English as a second language.
“Learning a language like English should be fun and engaging and we prioritize this at Freadom. The success of Freadom lies at the intersection of our innovative pedagogical approach and advanced AI technology that makes language learning accessible for every child between the ages of three and 12. The goal is to create impact at scale and prioritize long-term learning outcomes over short-term gains,” Nikhil Saraf, founder, Freadom, said.
While Capital A has been backing startups in different sectors, this investment in the edtech domain is its first one, as stated by Ankit Kedia, VC and CEO, Capital A. “Freadom has been focused on solving for age and learning outcomes with the deepest impact and hence effectively capturing maximum value. Having solved for distribution without spending on digital marketing, it is a definite edge for them in India to retain their pole position,” Kedia said.
Launched in 2016, Freadom helps children learn to read in English in any country where it is an aspirational second language. The team claims to be on track to reach 10 million readers. In addition, the company aims to reach 50 million users worldwide by 2023.
Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.