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Edtech startup Ingenium raises seed funding

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Ingenium, an EdTech startup offering white-labeled platform, has raised an undisclosed amount of seed funding led by Lead Angels. IAN, an existing investor, has also invested in this round along with iAngels Network of India Accelerator, Faad Network, and Hem Angels.

The fresh funds raised will be utilised by the startup to further scale up its operations, strengthen adaptive assessment technology, improve product and expand the team.

The innovative startup is providing a SaaS platform to small and medium sized education institutes and helping them to grow and manage their business better.

Speaking on the development, Pramudit Somvanshi, CEO of Ingenium said, “We are thrilled to have Lead Angels Network lead the current round and grateful for the continued support by our investors. This investment round will help us to scale our engineering and sales team, make our product seamless for our customers, and introduce new features and revenue streams.”

Founded by IIT Roorkee graduates Pramudit Somvanshi, Mohit Patel along with IHM Mumbai alumnus Aakash Gupta in May 2018, Ingenium provides a state-of-the-technology, a white-labeled platform for coaching institutes, schools, home tutors and parents. Besides, Ingenium app boasts a combination of administrative, academic and marketing features.

Expanding its reach, the Noida-based startup has connected over 150,000 students, 3,000 teachers in almost 100 cities all over India as of 30 April 2021. Furthermore, the startup’s monthly recurring revenue increased 5x in the last 2 months and it also witnessed the best ever sales during the month of April 2021.

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