The company plans to set up five such centres in 2024, majorly focusing on Gurugram, Bengaluru and Abu Dhabi, where it has strong office presence.
Cuemath had sacked about 100 employees in May to improve efficiencies amid a worsening landscape for K-12 edtech globally.
Khurma has joined a growing list of founders and venture capitalists to talk about the over-valuation of India's internet market, which seems to be slowing post the pandemic-led boost.
The meeting lasted 15 minutes but as the news spread, Vivek Sunder said he realised that Pepsi basically marketed itself by making its customers work.
The current CEO of the company, Vivek Sunder, will transition from his full-time role and will continue to work with the top management at Cuemath in an advisory capacity
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.
Cuemath’s fundraise comes at a time when the edtech sector in India is witnessing a significant slowdown amid a drop in demand for technology-based education solutions, thanks to schools, colleges and physical tuition centers reopening.
CapitalG (formerly known as Google Capital), the growth equity investment fund of Alphabet (Google's parent company), led this round of funding, the company said in a release.