Education Technology startup Evobi Automations has received $530,000 in angel investment which takes the total funding of the Bangalore based company to $910,000. It was funded by Bangalore based Roofing solutions company Shadeflex and an unknown investor.
Evobi’s product Bibox Tool includes a set of hardware and software to educate students on the basic concepts of engineering by making various equipments like robots, vacuum cleaner, a replica of Delhi’s signalling system etc. Bibox version one was launched in early 2014 and its version two is available now.
Bibox comes synced with Android operating system and can be accessed by any OS based smartphone through its app.
Evobi was founded by Sandeep Senan, who built the Bibox kit with funding from the Department of Science and Technology. The aim of the startup is to apply STEAM (Science, Technology, Engineering, Arts & Mathematics) in every school so that the students are aware of the basic engineering concepts and learn them the fun way.
The company was earlier funded by Dr Anirudh Malpani of Mumbai Angels, Manish Gupta and Naren Koduvattat, a former vice president of Infosys. Anirudh has already filed for three patents. Later, he collaborated with Madhusudan Namboodiri, former head of affiliate sales at ESPN Star Sports.
The startup has already got more than 42 schools in Delhi, Kerala & Karnataka to enroll with them on a yearly subscription. The company sends trainers to schools to help teachers and kids understand the working of the box; Also how it can be included inside the curriculum.
Education-tech sector has started to grow in the country and has already pumped $94 million from investors this year. Shirsa Labs, another edu-tech startup received $250,000 angel funding from ah! ventures, this was the second same sector startup that the funding company has funded.
Startups like FlintoBox (Raised $300,000) & Smartivity (Raised $200,000) are in the same zone as Bibobox and Evobi will face some serious competition from the two. Other startups like Avishkaar Box and Magiccrate are also emerging in the same trend.
There is a massive shift in the tech sector of the nation. As Bill Gross, founder of Idealabs, said “The most crucial thing for a startup to succeed is the timing.” The timing is perfect for the gaming and edu-tech sector to grow, they might be the unicorns of tomorrow.Category Investments Startups