B2B EdTech platform, Classplus, raises $9m Series A led by RTP Global

info@rtp-global.com | 04.05.20

– Company’s active user base has quadrupled in the past six months

– Capital will be used to improve the product offerings and scale the technology platform

– RTP Global leads Series A round with follow on investment from Sequoia Capital India’s Surge and Blume Ventures

Classplus, the Indian B2B EdTech startup enabling offline coaching institutes to take their businesses online, has raised a USD 9M Series A round of financing, led by RTP Global , the early stage tech investor. Existing investors including Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures and Strive also participated in the capital raise.

Despite the advent of e-learning, the Indian tutoring ecosystem is dominated by offline tutoring shops, commonly termed as coaching centres. Hundreds of thousands of such neighbourhood setups act as the primary source of academic support for the 70M+ students taking private tutoring in India every year.

Over the decades, these standalone centers have instilled a strong reverence in the students’ and parents’ minds owing to their great pedagogy and a strong hyperlocal presence, but they face acute challenges in giving their students a digital learning experience, a must in todays’ internet age.

Classplus aims to tech-enable this massive but highly fragmented market, by helping tutors run all their communication, payments, practice tests, schedules and online learning programmes on their smartphones. It opens up a new-age content distribution channel, allowing tutors to generate additional income opportunities by monetising their online assessments and video lessons. With time, Classplus plans to expand distribution offerings beyond content to other educational products, helping tutors address all student needs in a cohesive online environment.

The new capital injection comes off the back of a hugely successful year for Classplus. The active user base has quadrupled over the last six months and tutors are performing 50% more activities on the platform than they used to do in the last quarter. With the trend of exams going digital in the country, online assessments conducted on the platform are doubling every quarter. The platform is also working with content publishers to establish an easier access to online assessments for the ecosystem.

The capital infusion will be used to improve the technology while expanding the product offerings. The platform is currently used by 3,000+ coaching centres across 70+ cities and towns in India, majority of which are non-metropolis in nature. Classplus is expanding its product, engineering and business teams, including strategic leadership hires to drive expansion as it scales rapidly. Smartphone users have surpassed 500 million in India in 2019 and the company will capitalize on this continued growth of internet access, and improving digital literacy for an ever growing swathe of customers.

Mukul Rustagi, Co-Founder and CEO of Classplus, said: “This new round of funding will enable us to serve more teachers and ensure that they have access to effective digital teaching solutions. India is home to the largest after-school tuition market in the world and delivery models keep evolving as we speak. We believe teachers are real-life superheroes and it is our duty to empower them with a new-age arsenal . As national examinations move online, so must after-school tuition practices, and this new round of funding is a testament to Classplus’ ability to digitise the ecosystem.”

Kirill Kozhevnikov, Partner at RTP Global, added: “ According to the Global Teacher Status Index by the Varkey foundation in 2018, India was among the top-10 in the world in respecting teachers, though was in the last-10 in paying them. Classplus is liquidating this imbalance by empowering tutors with full-stack mobile solutions, while maintaining and further improving the high reputation of tutors. We are happy to back the company with this important mission, and have Classplus as our first edutech bet in India.”

For press enquiries: info@rtp-global.com

E-scooter startup Tier raises $250 million round led by SoftBank Vision Fund 2

info@rtp-global.com | 13.11.20

Berlin-based micromobility startup Tier has raised a significant Series C round of $250 million. SoftBank Vision Fund 2 is leading the round, which proves that the Vision Fund team is still focused on high-risk, high-potential bets.

Learn more

Video creation and editing platform InVideo raises $15 million

info@rtp-global.com | 13.11.20

InVideo,  a Mumbai-based startup that has built a video creation and editing platform, has raised $15 million as it looks to court more users and customers worldwide.

The startup offers a freemium web-based editing tool that allows users to create videos that are fit to be published on popular social media platforms (such as Twitter, Facebook, YouTube). In the year since its launch it has amassed more than 800,000 users who have created videos in over 75 languages.

Learn more

Investments in India’s ‘speedy’ market are paying off: QandA with Galina Chifina of RTP Global

info@rtp-global.com | 01.06.20

Moscow-headquartered venture capital firm RTP Global, which was founded by Russian entrepreneur and investor Leonid Boguslavsky, has raised USD 650 million after exhausting its second global fund of USD 200 million in 34 companies across the US, Europe, India, and Southeast Asia.

The firm will invest USD 650 million in these four geographies, with about one-third of the fund allocated for early-stage to Series B technology companies from India and Southeast Asia.

RTP started developing a portfolio in India in 2011, targeting startups in e-commerce, food delivery, fintech, ed-tech, telemedecine, agritech, and mobile gaming. Then, last year, it made one investment in Vietnam and two in Singapore.

KrASIA got in touch with Galina Chifina, partner and investment advisor at RTP Global, to learn about the firm’s strategy in these two regions.

Chifina, whose plans to relocate to RTP’s new office in Singapore this year have been delayed due to the pandemic, said she will move to the city-state by early 2021.

Learn more

B2B EdTech platform, Classplus, raises $9m Series A led by RTP Global

info@rtp-global.com | 04.05.20

– Company’s active user base has quadrupled in the past six months

– Capital will be used to improve the product offerings and scale the technology platform

– RTP Global leads Series A round with follow on investment from Sequoia Capital India’s Surge and Blume Ventures

Learn more

Agri B2B Platform Bijak Raises $12M Series A Round Led By RTP Global

info@rtp-global.com | 27.04.20

Bijak, a B2B platform for agricultural commodities, announced today that it has raised a USD 12 million (INR 91 crore) Series A round led by RTP Global. Existing investors Omnivore, Omidyar Network India, Sequoia Capital India’s Surge, and Better Capital also participated in the round.

Learn more

RTP Global doubles down on founder-driven mission with new $650M fund

info@rtp-global.com | 03.03.20

Today, we announce the launch of RTP III. At $650M, our latest fund is more than three times the size of RTP II and will enable us to invest in even more companies around the world.

Learn more

Fintech leader MoneyTap secures Rs. 500 crore, raises Series B for growth

info@rtp-global.com | 29.01.20

The funding round is a mix of Equity and Debt, led by global funds like Aquiline Technology Growth and RTP Global and existing investors, namely Sequoia India, Prime Venture Partners and MegaDelta.

Learn more

RTP Global has invested into coaching platform CoachHub

info@rtp-global.com | 13.11.19

CoachHub has closed a €10M funding round, from existing investors HV Holtzbrinck VenturesPartech and Speedinvest x and new investor RTP Global. After raising €6M just three months ago, the latest round brings total funds raised this year to €16M, recognising CoachHub’s position as the leading digital coaching provider in Europe.

Learn more

Anton Inshutin leading a panel about Digital Transformation in Logistics at NOAH London

info@rtp-global.com | 07.11.19

We are happy to announce that our partner Anton Inshutin was leading a panel about Digital Transformation in Logistics at NOAH London on 30 October. Below you can see some of the ideas shared on the panel

Learn more

Munich-based AI company e-bot7 secures 5,5 Million Euro Series A

info@rtp-global.com | 21.08.19

  • e-bot7 secures 5.5 million euros in financing for further growth by the investors RTP Global (early investor in Yandex, Delivery Hero, SumUp, Urban Sports Club and many more), 42CAP, Main Incubator (early-stage investor of the Commerzbank Group) and a renowned business angel.
  • With complex NLP algorithms, an AI hybrid solution and low implementation costs, e-bot7 is currently one of the most innovative and successful providers of artificial intelligence (AI) in Europe. Only recently, the company was ranked among the Top 10 AI Startups in Forbes magazine.
  • e-bot7 integrates artificial intelligence into existing or CRM systems to increase the efficiency of customer service operations.

RTP Global together with other well-known existing investors, has invested a total of 5,5 million euros in the AI-Startup e-bot7, which was founded in 2016. Other existing investors include 42CAP, the Main Incubator, Commerzbank’s early-stage investor, and a leading private investor.

With the investment round, e-bot7 will further expand its position in the European market. The company will use the funds to further expand its technology and business team to help more customers to make their customer service more efficient through artificial intelligence.

Learn more

Clear Logistics

info@rtp-global.com | 19.06.19

Shipsta Secures Millions in Funding for its Unique
and Revolutionary Digital Logistics Concept
SHIPSTA is unique in delivering a digitisation boost in the logistics industry via
crowdsourcing and artificial intelligence – digitally procuring freight rates has
never been so easy. Well-known investors have recognised this: RTP Global and
MANGROVE CAPITAL PARTNERS are supporting SHIPSTA with a generous
amount in the millions.

Learn more

Dasha.AI Receives $2 mln in Equity Funding to Build Human-level Conversational AI RTP Ventures and RTP Global Lead Investment adding a member to company Board.

info@rtp-global.com | 18.03.19

New York, NY and Novosibirsk, NSB – March 13, 2019 – Dasha.AI Inc., an AI startup dedicated to building human-level voice conversational AI platform, today announced it has completed a $2 million seed round led by RTP Ventures and RTP Global.

“We are delighted to have such experienced in B2B venture capitalists help us build the company,” said Vladislav Chernyshov, CEO and co-founder of Dasha. “We plan to aggressively grow the company and the technology so we can continue to provide the best voice conversational AI to a market which we estimate to exceed $30bln. worldwide”

Learn more

RTP Global expands investment team and commits more capital in India and Southeast Asia

info@rtp-global.com | 15.11.18

RTP Global, the international venture capital investment firm, announces that Kirill Kozhevnikov joins as Partner focusing on India investments, working together with Galina Chifina. As part of its continued expansion in the country, RTP Global plans to invest significant portion of its new global $200M fund into early and mid stage opportunities in India.

Learn more

ru-Net becomes RTP Global

info@rtp-global.com | 30.10.18

London / New York / Moscow: ru-Net, the early stage investment and venture capital firm founded by Leonid Boguslavsky has announced at NOAH 2018 that it is changing its name to RTP Global, to reflect the success of its USA based arm RTP.vc and company’s evolution to a globally focussed venture capital firm.

Learn more