Edtech startup Kreedo bags $2.3 million in its Pre-Series A funding round led by Switzerland’s UBS Optimus Foundation, Spectrum Impact, Gray Matters Capital, and 1Crowd. The round was also joined by Innospark Ventures, IIM-CAN, and The Chennai Angels.
Kreedo will use the capital to expand the business and form partnerships with schools nationwide.
“We see Kreedo’s business model as a unique way to create social change by making quality early education accessible to every child from lower-income communities.”
Dhun Davar, head of social finance at UBS Optimus Foundation
Kreedo’s 6T approach to education
Kreedo Early Childhood Solutions is a Bengaluru-based company that delivers end-to-end solutions to revolutionize the delivery of early learning.
“We are excited to be a part of their growth story and support their vision of impacting more than 1 million children annually in India, especially from lower-income families, by 2025.”
Mirik Gogri, Spectrum Impact.
Founded in 2012 by the husband wife duo, Mridula Shridhar and VK Manikandan, it is on a mission to transform how early learning is offered in low-income private schools and preschools. According to statistics, India has around 3,50,000 private schools and preschools that charge less than INR 30,000 per year and primarily serve pupils from low-income families. However, most of these schools continue to use rote methods and have inadequate resources to assist or train their instructors, resulting in poor learning outcomes.
Kreedo alters the curriculum using a 6T learning framework, combining toys, technology, theory, teacher training, a timetable, and cooperation.
“Our vision is to democratise quality early education. We have an overwhelming response from our partner schools looking for a simple way to improve foundational learning. The new round of funding will enable us to take Kreedo to over 7000 schools across multiple cities in India.”
Mridula Shridhar, CEO of Kreedo
According to a company statement, the firm has impacted over 2 lakh children by implementing its curriculum in over 400 budget private schools and over 1500 preschools. In addition, it has measured learning outcomes that are 50% better than the market in budget private schools based on an independent study by FSG.
The firm has shown significant development and impact, altering how schools perceive and offer early learning and emerging as a prominent player in the low-cost early education market. Kreedo is ideally positioned to develop swiftly, given the tremendous need for in-school learning during the pandemic and a heavy focus on core literacy and numeracy in NEP.