LEAD becomes first edtech unicorn of 2022, raises $100 mn in Series E round

The company plans to use the proceeds to achieve its vision of providing quality affordable education to more than 25 mn students with an annual revenue run-rate of $1 bn

Mumbai-based start-up LEAD has become the first edtech company to enter the unicorn club this year. The edtech start-up has raised $100 million in its Series E funding at a valuation of $1.1 billion.The round was led by Westbridge Capital while GSV Ventures also participated.
 

The company says that it focusses on improving a student’s school education experience rather than serving as a supplement to schooling like most other edtech start-ups. LEAD says it will enter Academic Year 22-23 with 5,000 schools across more than 500 cities in India with an annual revenue run-rate of $80 million – and reach