Mumbai: Mumbai-based edtech startup LEAD School on Friday said it has raised $28 million (around Rs 210 crore) in a Series C funding round led by Westbridge Capital, along with the existing investor Elevar Equity.
The company would use the latest round of funding to accelerate the development and rollout of new product offerings, increase its school network in tier 2-3 cities and hire talent across domains.
The current Series C round is LEAD School’s third round of institutional funding since 2017. Both the previous rounds were led by Elevar Equity, which remains a major stakeholder.
“LEAD School partners with affordable private schools to transform them into centres of excellent learning through our Integrated System,” LEAD School Co-founder and CEO Sumeet Mehta said in a statement.
“The new round of funding will help us bring more innovation and reach more students and schools.”
Founders Mehta and Smita Deorah began their LEAD School journey by running affordable schools and teaching middle school students.
Through their hands-on experience, they built the LEAD School Integrated System with a mission to make excellent schools accessible and affordable to every child.
In 2017, the company started offering its Integrated System to schools and has seen rapid adoption with more than 800 schools partnering with LEAD School.
The company said it now serves over three lakh students studying in these affordable private schools.