Early stage investment fund, Kae Capital has invested undisclosed amount and picked a minority stake in Jaipur based Intap Labs Pvt Ltd which runs a language learning startup CultureAlley.com, reports Mint.
The raised funds will be used by the company for product development. It aims to become profitable and reach out more third-party authors to provide them platform for content publishing, as its short term goals.
Launched in November last year, CultureAlley.com works through a cloud-based platform, which provides interactive language learning sessions through use of audio & visual. Company claims to have over 100,000 users across 210 countries and through it people can learn various languages including Spanish, Mandarin, Hindi, Japanese, Italian, French, Korean and English as well.
The website provides individual sessions by professional and trained coaches and self-study material. The revenue strategy of the startup includes pitching advanced self study lessons at a price of USD 4.99, with each real-time lesson costing between $15-20 depending on the package.
“As the attraction lies in the viability of language learning, The pain point is huge and global. For us, monetization is not the most important aspect, huge traction is more important currently,” said Sasha Mirchandani, managing partner, Kae Capital.
CultureAlley was founded by duo Nishant Patni and Pranshu Bhandari.
Recently, Kae Capital has invested in another education portal whose name is left undisclosed by the company.