Eight Road Ventures and Facebook co-founder's VC (venture capital) firm B Capital have led a Series A funding round in edtech startup Bhanzu, a global math learning platform, set up by Neelakantha Bhanu, who holds four world records for being the Fastest Human Calculator in the World.
The company raised $15 million from the two VC firms with B Capital investing from its Ascent Fund, Bhanzu said in a statement on September 21. Bhanzu did not disclose the valuation at which it raised the round, but a report by Entrackr said that the company raised the money at a valuation of $105 million.
Bhanzu said it will be using the funds to expand its business globally across multiple geographies. It will also enhance its tech infrastructure to create better learning experiences and will increase its workforce, and strengthen its curriculum.
“We will utilize the funding to accelerate expansion across geographies and strengthen our technology infrastructure to enhance students’ experience,” said Bhanu.
“Every student is capable of learning and loving math, if taught the right way. With the Bhanzu Way of teaching math, we want to eradicate global math phobia. We are excited to take #BhanzuRevolution globally,” he added.
Bhanzu, founded in 2020, offers learning programs in mathematics for students between the age of 6-16 years. The company claims that it helps students become four times quicker and better at mathematics.
Bhanzu’s curriculum is personally curated by Bhanu based on the data and research he conducted over the last four years across the globe, the company said.
“Low math proficiency is a deep problem driven by lack of skilled teachers, poor engagement and math anxiety in students. We have been very impressed with Bhanzu’s proprietary pedagogy and curriculum which results in superior learning outcomes, cognitive development and future-readiness,” said Aditya Systla, Partner, Eight Roads Ventures.
Bhanzu had previously raised $2 million in a Seed funding round led by Lightspeed Ventures along with a few angel investors including Gaurav Munjal of Unacademy, and Kunal Shah of Cred, among others. Bhanzu said that the funding was deployed in scaling up its live virtual classes across India and accelerating hiring for specialized technology and product teams.
Bhanzu claims to have over 400 people on its rolls and said that the company will recruit across different verticals.Bhanzu becomes the second niche math learning platform after Cuemath to raise a large round this year. In June, Cuemath, which counts Sequoia Capital, Google's parent Alphabet, among others as its backers raised $57 million at double the valuation.