One industry that has benefitted maximum from covid-19 is EdTech. The newly launched edtech startups as well as the existing ones both have shown promising growth. For example, Byju’s has become the most valued Indian startup at a valuation of over $16.5 billion.
Some edtech startups are busily expanding their course offerings and video uploads to acquire more customers. On the other hand, edtech like Teachmint is busy helping online teachers by providing technology solutions for online classes.
Let’s have a look at Teachmint’s short but promising journey.
Beginning of Teachmint
Founded in 2020 with a base in Bengaluru, Teachmint is empowering teachers by providing them easy to use teaching app. The startup is mainly focused on “Mobile First, Video First” online solutions. With few taps, online tutors can create their own virtual classroom space.
The startup provides online classroom space, attendance, assigning tasks and follow-ups, and fee collection are some of the major features included in teacher’s private virtual space.
The startup was founded by Mihir Gupta, Payoj Jain, Divyansh Bordia, and Anshuman Kumar. Currently, Mihir Gupta is handling the CEO position in the firm, while, Bordia is the COO of the growing startup. Kumar takes care of the technical aspects of the firm.
Before the pandemic, Teachmint used to be an offline coaching institute. During the pandemic of 2020, the institute developed an online platform for teachers. As per Teachmint claim, it got 4x growth in its teaching business within 8 weeks of launching the Teachmint app.
Teachmint Exponential Growth
Teachmint attracted around 2.5 lakh new teachers and it registered 50,000 new students every month, as per the Teachmint internal report till the end of 2020. Online teachers also recorded a growth in the range of 200% to 1000% in terms of new students enrollment. Some teachers are adding around 1600 new students per month.
In a discussion with TechCrunch, Teachmint CEO Mihir Gupta has around 1 million teachers on its platform. Currently, it has a presence in 5000 cities and the startup is recording a 100% growth every month. 25 million live classes were conducted in June 2021.
Due to the spike in Teachmint operations, investors are showing more interest to invest in a year-old startup. In a recently concluded round on Thursday, edtech startup raised $20 million led by Learn Capital and CM Ventures. Earlier in the series A round, Teachmint collected $16.5 million less than two months before. Teachmint valuation recorded 3x growth due to above back to back funding rounds within two months.
Other edtech startups did not initiate the tech infrastructure operations due to the strong presence of Zoom and Google Meet. Teachmint believes that these platforms are good for meetings and different official conversations but they are lacking student-friendly features.
Teachmint app simplicity is liked by online teachers and that is the reason 75% of Teachmint tutors use the app instead of web platforms for teaching purposes.
The app supports 11 Indian languages including English. It just requires 14 megabytes of mobile space for installing and conducting live classes successfully. Since the app doesn’t offer any content for students, so the startup plans to go global with its operations in the coming year.