New Delhi, Feb 26: Avishkaar Box an Ed-Tech company has declared that it has accumulated an amount of Rs 5 crores in pre-series A funding from Auxano Deals. The organization plans to use the fund to strengthen its occupancy in pan-India and for an instant growth in Asia.
Avishkaar Box was presented to Auxano by Rahul Gupta of Radar Capital on this transaction. The deal values of Avishkaar is about USD 4 million.
Founder and CEO Tarun Bhalla has plans to propel Avishkaar Box to make a revolution in Science, Technology, Engineering and Mathematics (STEM) learning. His target was not only not only India but also the Asian and middle-eastern markets, along with an expansion.
Bhalla said, "We are experiencing exponential growth, and we need to hire energetic and focused people who can drive it. Along with this, our product team is all set to launch a fabulous product range with more focus on the entry level of this market."
He further added, "the company is also looking to strengthen its channel partner network especially in Karnataka, West Bengal, Odisha and other parts of east and south India. We are confident that we will double company's turnover to USD 3 million within two years from USD 1.5 million in the current year."
Avishkaar Box is one among the leading players to set up Atal Tinkering Labs (ATL), a plan of the Indian government. This includes supplies of education tinkering and robotic kits to over 2,400 schools from all over India.
The organization has been administering the IRC League, a league which intends to stimulate young and creative minds by giving them problems to solve and build a better world for tomorrow using tools of science and technology, since 2009.
Now, Avishkaar Box has a be established in more than 400 schools pan-India in addition to 125 Tinkering Labs set up across the country.