EnggOnline, a Mumbai-based incubate of Society for Innovation and Entrepreneurship (SINE), IIT-Bombay, is India’s first company to develop a SaaS-based platform for tutors/trainers with a unique pedagogy of experiential learning using Augmented Reality (AR) and Virtual Reality (VR) secured equity financing of around $3.5 million in a pre-Series A.
The financing round was led by a group of highly successful professionals including an investment firm led by Madhu Kela, Paresh Shah, Ketan Sheth, Arun Nahar, Kirti Doshi (founder member of the Antique group), Sanjay Dangi (Authum Investments), Anurag Jain (the family office of Tarun Jain), Kishore Shah (CEO, Aamara Capital Private Limited), P S Jayakumar (ex-MD & CEO, Bank of Baroda), Prem Rajani (Managing Partner, Rajani Associates), Akshay Gupta and N Jayakumar (both from the Management Team, Prime Securities), along with the ENGG Online founders family offices.
The company will use the funds towards manpower, cost of content development, delivery, and infrastructure required for the expansion of operations.
Company: FEAST Software Private Limited
Raised: $3.5M
Round: pre-Series A
Funding Month: March 2022
Lead Investors: Madhu Kela, Paresh Shah, Ketan Sheth, Arun Nahar, Kirti Doshi, Sanjay Dangi, Anurag Jain, Kishore Shah, P S Jayakumar, Prem Rajani, Akshay Gupta, and N Jayakumar
Additional Investors:
Company Website: https://www.enggonline.com/
Software Category: Learning platform
About the Company: FEAST has developed a comprehensive learning platform for engineering/skill students, tutors & industry experts for all levels. EnggOnline is a resilient portal that utilizes state-of-the-art technologies to deliver an exclusive and interactive learning environment. It offers a structured, guided learning pathway using course content for enhancing basic concepts, exam scores, and industry readiness. The strategy is to offer a bouquet of courses and VR/AR, gamification-based assets to help Tutors/Trainers for day-to-day teaching/self-learning for better outcomes. This teaching methodology ensures deeper engagement with students daily right through their career path. The course content is mapped to NEAT-AICTE model curriculum, all the levels of NSQF as per NSDC & Sector Skill Council curriculum and is as per the training curriculum and SOPs for Industry.
Source: https://indiaeducationdiary.in/engg-online-raises-usd-3-5-mn-in-pre-series-a-round-for-its-ar-vr-based-saas-training-solution/