Ed-tech startup IMAX Program secures $13.5 mn towards product innovation

IMAX Program, a personalised education start-up that serves over 800 schools and 300,000 students across India, has raised USD 13.5 million, focused on providing curriculum services to K-12 schools in India.

The current infusion of funds in 2018 will be used to further innovate the product, enhance in-school service experience and expand the customer base through multiple distribution channels. IMAX will also explore working with K12 publishers internationally, to deliver high quality in-school remedial programs to a global student base.

The IMAX Program includes textbooks, workbooks, school exams, feedback reports and individualised remedial worksheets along with teacher manuals and teacher training modules. To ensure smooth integration with schools, the technology platform works at the backend to deliver exams, reports and remedial worksheets in print. The exam-remediation loop ensures that the key learning gaps are identified and bridged, thereby maximising learning.

Till date, IMAX Program has delivered more than 1.7 million individualised remedial worksheets.

"With this round, we will now further deliver a better experience for our customers and partners, and accelerate the expansion of our commercial operations in India. We will also be selectively looking at prospective markets abroad. We aim to impact 2 million students by 2020," said Varun Kumar, Co-founder, IMAX Program.

IMAX conducted more than 500,000 assessments across 11 states in India, developing a deep understanding of classroom transactions and student learning. This helped them conceptualise and build an innovative curriculum program leveraging internal school exams in the process.

In 2015, Aspada, an investor in this round, had invested USD 1.8M to help IMAX implement affordable technology to the classrooms to enhance school's ability to measure and impact learning outcomes effectively.

The other investors in this round of funding include Michael & Susan Dell Foundation and LGT Impact Ventures.