The EdTech sector is one that has benefited most from COVID-19. Both the current and newly formed edtech businesses have displayed encouraging growth. Byju’s, for instance, has been valued at nearly $16.5 billion and is now the most valuable Indian startup.
Some edtech businesses are hard at work increasing their course selections and video uploads in an effort to draw in more users. Examining Teachmint’s brief but promising history will help us better understand how tech companies like Teachmint are assisting online teachers by offering technology solutions for online programs.
Beginning of Teachmint
Teaching is a Bengaluru-based company that was founded in 2020 with the goal of empowering teachers by offering them an intuitive teaching app. “Mobile First, Video First” web solutions are the startup’s core area of concentration. Online tutors can create their own virtual classroom space with just a few clicks. The startup offers online classroom space, attendance, task, and follow-up assignment, and fee collection are some of the major features included in teachers’ private virtual spaces. Mihir Gupta, Payoj Jain, Divyansh Bordia, and Anshuman Kumar founded the startup. The company’s CEO is currently Mihir Gupta, and Bordia is the COO of the expanding startup.
Before the epidemic, Teaching was an offline coaching facility, and Kumar looks after the technical elements of the business. The institution created a platform for instructors to use online during the 2020 pandemic. Within eight weeks of releasing the Teachmint app, Teachmint claims to have experienced a 4x rise in its teaching business.
Teachmint Exponential Development
According to Teachmint’s internal report by the end of 2020, it attracted almost 2.5 lakh new teachers and registered 50,000 new students each month. When it comes to the enrollment of new students, online teachers have seen growth in the region from 200 percent to 1000 percent. Teachmint CEO Mihir Gupta spoke with TechCrunch about the platform’s over 1 million teachers, some of whom are enrolling about 1600 new students each month. There are currently 5000 cities where it is present, and the startup is growing by 100% per month.
In June 2021, there were 25 million live lessons held. As a result of the growth in Teachmint operations, investors are exhibiting increased interest in the one-year-old firm. This past Thursday, an ed-tech business raised $20 million in a round that was co-led by Learn Capital and CM Ventures. Teaching received $16.5 million less than two months ago in the Series A financing. Teachmint’s valuation increased by three times as a result of the two consecutive fundraising rounds mentioned above.
Other tech businesses chose not to launch their tech infrastructure operations because of Zoom and Google Meet’s dominance. Teachmint thinks that while these platforms are great for conferences and other business-related discussions, they are lacking in elements that are useful to students. The Teachmint app’s simplicity appeals to online teachers, and as a result, 75% of Teachmint tutors utilize
it is for teaching reasons rather than web platforms. The app supports 11 Indian languages in addition to English. Installing and properly running live classes only needs 14 MB of mobile capacity. The firm intends to expand its operations internationally in the upcoming year because the app doesn’t provide any content for pupils.