iChamp draws investment from Adda52 founders, among others
iChamp, an ‘innovate digital platform’ that uses intuitive quiz-based learning to enhance Maths and English skills for children, has recently seen Adda52 co-founders Anuj Gupta and Mohit Agarwal invest in the educational start-up. The investment amount hasn’t been disclosed till now. The two will bring their vast industry network and experience to iChamp.
The funding round, however, was led by Singapore-based Ariana Investment Management’s CEO Raju Shukla. Shukla is a former MD and Country Head of Barclays Capital India and a founding member of Ashoka University. iChamp, in a statement, said that they will utilize the funds for expansion of its current offerings and technology upgradation.
iChamp was founded last year by Mohit Bansal, a serial entrepreneur who has some experience in the education and gaming industry. The reason for him to venture into this space was that he saw certain gaps in the Indian education system and observed that kids could understand the concepts but were lacking in practice, hence iChamp.
Commenting on the funding, Bansal said, “Even though the quality of teaching has improved in private schools across India, kids still have a fear of Mathematics. There is a clear lack of motivation among kids, which leads to lack of practice. Solving this problem of self-motivation is the key to better learning outcomes. iChamp uses elements of gamification like real-time challenges, rewards, competition, fun and social engagement to motivate a child to practice more.”
Shukla, the lead investor in iChamp also weighed in saying, “iChamp is one of its kind app in India, focusing solely on the otherwise ignored need for students to practice more. We see great potential in this segment. It is a completely new way of looking into the real problems affecting the Indian education system.”
Here's a short advertorial released by iChamp:
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