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Illumnus raises USD 100K from angel investors, HNIs

Business Finance

Press Trust of India  |  Mumbai 

Edtech start-up Illumnus on Tuesday said it has raisedUSD 1,00,000(about Rs 75 lakh) in seed funding from a group of high networth individuals (HNIs) and angel investors to market and expand its services.

The key investors are a group of HNIs and angel investors from Dubai, UAE, the company said in a statement, without disclosing any details.

"We are very excited about this. We plan to market and expand our services in four countries by the end of this year with an organic and sustainable growth," Illumnus founder Akash Deep Singhal said.

"We have already doubled our team bringing A-players to build a scalable SaaS based LMSplatform, which the educational institutions always deserved but never got," he added.

Illumnus, the Collaborative Learning Management System (C-LMS) for educational institutions, was founded by IIT Bombay alumnus Akash Deep Singhal and his brother Akshaya Singhal from BITS Pilani.

"We are thrilled to support and help Illumnus grow leaps and bounds. In times where the world of education is increasingly becoming digitally driven, we find Illumnus very well placed to capture the market not only in India but in other global markets as well," the investor group was quoted as saying in the statement.

"Edtech in the business-to-business (B2B) space has seen a lot of investment in recent times from large players like Google and Microsoft as well. However, the solution offered by Illumnus is more end-to-end and provides seamless learning and pupil management capabilities to schoolsand parents alike," it said.

As the country is under lockdown to curtail the spread of COVID-19, edtech platforms have seen a surge in enrolment with professionals signing up for up-skilling and schools and colleges using them to finish pending syllabus.

Illumnus provides premier educational institutions with their internal digital learning network, simplifying the communication flow among the students and teachers even after school hours.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, May 19 2020. 18:01 IST