Alpha Wave leads $5 million Series A in India’s edtech platform Kyt

Alpha Wave leads $5 million Series A in India’s edtech platform Kyt

Source: The Financial Express

Edtech platform Kyt on Wednesday said it has raised USD 5 million (about Rs 36.5 crore) in funding led by Alpha Wave Incubation (AWI), a venture fund managed by Falcon Edge Capital. The series A round also saw participation from Sequoia Capital India's Surge, January Capital, Titan Capital and other angel investors, a statement said.

"The funds raised will be used for deeper investment in technology and product, to enhance the overall experience of the students and to accelerate global expansion. Kyt already has students from India, UAE and Singapore and is looking to scale its footprint to the US, Canada, UK and Australia,“ it added.

As part of this investment from AWI, Kyt will expand its operations to Abu Dhabi and use the Emirate as its regional headquarters for targeting the Gulf Cooperation Council (GCC), Middle East and North Africa (MENA) and other global markets, the statement said.

Kyt is also working on building a team of data scientists, product managers and engineers located in Abu Dhabi. Founded in June 2020, Kyt runs online-only extracurricular courses by combining live classes with video-based revision materials for children from ages 5-15 years, in a full-stack model. It offers one-on-one and small group sessions