EduAce Services, a co-scholastic learning partner for schools, headquartered in Lucknow, has secured its first round of seed funding valued at 1 Million USD from MoMagic, a New Delhi-based mobile internet market and app ecosystem major.
Founded in 2012, the start-up works with schools and students on their co-scholastic learning needs. It has operations in Uttar Pradesh, Uttarakhand and Madhya Pradesh and covers over 2500 schools. The company focuses on its IP brand(Quiz Show) School Quiz League- Pratibha Ki Khoj, for school students.
It aims to create various such strategic IP products aimed at the vast schooling community across India, said company sources.
Talking about the announcement, Gaurava Yadav, Founder and CEO, said that the funds would be utilized towards school learning programmes and expanding operations pan-India. EduAce Mission plans to take its knowledge network to 5K schools by 2017.
Arun Gupta, Founder and CEO of MoMagic, said that the mutual strengths of this association would greatly benefit the overall school learning in India at large, enabling the future generation of India to be future ready.
MoMagic Technologies Pvt. Ltd. is a Delhi-based technology company operating across five major markets in South East Asia.
Published Date: May 06, 2016 15:45 PM | Updated Date: May 06, 2016 16:13 PM