Chennai-based education gaming company, Edsix Brain Lab has its raised second round of angel funding led by Sprout Angels LLP. IIM Ahmedabad’s Centre for Innovation Incubation and Entrepreneurship (CIIE) and US-based investor Village Capital, which had invested in the company in 2013, partially exited the venture with this new round of funding.
With the fund, the startup aims to expand its services in the B2C segment, and strengthening the technology platform and B2B Integration. “The current round of angel investment will play a pivotal role in moving Skill Angels into the next orbit and fueling next phase of their growth,” said Vipul Patel, Associate Vice President at CIIE.
Edsix is a CIIE incubated startup that provides online and offline educational games which help to develop cognitive skills, teach real life concepts, and supplement school curriculum for K-12 students. The company was founded in 2013 by Parimala Vageesan, Kalpana Murthy and Saravanan Sundaramoorthy. Its product ‘Skill Angels’ provides a multilingual platform that includes Indian regional languages.
Since its inception, Skill Angels has been delivered across over 15,000 student. It offers 500+ games that provide self-paced learning, controlled gaming and supports skill development.
Market size estimates for game based learning industry globally is around $2 – 3 billion in 2015 and projected to grow to $8-9 billion by 2017. “We see huge potential for educational games in India with a market size of around a $1-1.5 billion market in next couple of years. We find the product developed by EdSix Lab has global potential. We are excited to invest and see this company grow leaps and bounds.” said Abhaya Kumar, Chief Advisor from Sprout Angels LLP.