New Delhi: Mobile learning management platform Byndr today said it has raised USD 700,000 (Rs 4.70 crore) in seed funding from Education Design Studio (accelerator at the University of Pennsylvania), Ben Franklin Technology Partners and a group of angel investors.The Hyderabad-based firm will utilise the funds to expand its sales and development team, Byndr said in a statement.
It will also use the funds to grow the product scope in terms of giving more access to educational content for students and providing more administrative features for colleges, it added.
Set up in March 2015, Byndr is now used by over 50 top colleges in India, including Osmania College of Engineering and Chaitanya Bharathi Institute of Technology, and has a total installed base of over 50,000 students on its platform.
“In 2017, it is projected that 80 per cent of the Internet users in India will be mobile. So the only way to truly create a single point of access for students in mobile-dependent markets like India is with a mobile-first product,” Byndr co-founder and CEO Joseph Freed said.
He added that Byndr helps students stay engaged and connected to educational resources outside the classroom, enabling the concept of anytime and anywhere learning with a fast and light platform.“This round of funding will allow us to accelerate expansion and continue providing easy-to-use, and mobile-first products for all stakeholders in higher education,” he said.