Supernova, a startup that offers interactive live quizzes on CBSE topics to kids, on October 13 said that it has raised $1.1 million funding led by Lumikai, a gaming and interactive media-focused venture capital firm.
The financing round also saw participation from Kae Capital, All-in Capital, Goodwater Capital and angel investors such as Swiggy co-founders Nandan Reddy and Phani Kishan, PayU founder Nitin Gupta, former Gaana chief executive Prashan Aggarwal and Moonfrog Labs founder Tanay Tayal.
Started by Maharishi RB, Anirudh Coontoor and Nawin Krishna, Supernova's live quizzes allow students to learn and practice a math skill in daily 30 minute sessions. These skills are based on the CBSE curriculum for classes 1-8.
The sessions are split into three parts - an initial learning time where a facilitator teaches a math skill to kids over Zoom, following which kids can practice the concept on Supernova platform and then participate in live quizzes.
"Our product is a fresh take on ed-tech that leverages the power of interactivity and systems of play. We are rethinking everything from pedagogies to price points to distribution channels. This funding round will help us go a long way with this much-needed disruption" said Maharishi RB.
The startup plans to use the funds raised to further develop and scale its product to incorporate multiplayer formats, strengthen its leadership team and initiatives that will drive product-led user acquisition over the next 18 months.
Maharishi told Moneycontrol that their focus is currently on the math subject but they are also experimenting with other subjects such as science and space.
"Math is one subject where this pedagogy works best, you can break it down into one skill and practice with a bunch of questions. Other subjects are in experimental stages right now" he said.
"We believe that systems of play and gaming best practices have the potential to unlock massive disruption in ed tech. Supernova is taking a first principles approach to a massive opportunity with a new platform that re-imagines kids education by leveraging the power of experiential, game-based “learning by doing”" said Justin Shriram Keeling, Founding General Partner, Lumikai Fund.
Maharishi said they are currently experimenting with different pricing models at present, including paying per live quiz session but will likely soon move to a subscription model.
"It has become increasingly evident that the current traditional ed-tech models characterized by high customer acquisition costs, prohibitively expensive courses, and poor learning outcomes are unsustainable. From affordable pricing to product-led growth, we like how the Supernova team is going after entirely new models" said Sunitha Viswanathan, Partner, Kae Capital.
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