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We Founder Circle (WFC), an early-stage venture capital firm, has announced that they will lead an undisclosed seed round of edtech startup Student Ink, a corporate entity of Jaynik Eduserve Private Limited. In addition to participating in investment rounds, WFC has partnered with a number of strategic angels to assist startups in consolidating their operational efficiencies. The funding is provided through We Founder Circle’s global accelerator program, EvolveX.
“Seeing the growing demand for EdTech education and the potential for Student Ink to become a major disruptor, we are excited to invest in this startup and pledge to support its mission to transform the education sector in India. In addition, at WFC We Founder Circle co-founder Gaurav VK Singhvi said:
Founded by Nihar Sheth, Jayraj Jadeja and Kevin Ritter, Student Ink has joined over 300 schools, around 6000 educators and 1,60,000+ users, effectively achieving an average student engagement time of 22 minutes across 14 states in India In addition to fundraising, the brand intends to accelerate the onboarding of more students and educators while increasing revenue streams. Edtech startup Student ink plans to spend 42% of its funding on sales and marketing, 30% on development and hosting, 15% on operations and 13% on support, the company said in a statement.
“We sincerely thank our lead investor WFC and all other investors for the trust in our model and philosophy. This investment will pay off and contribute to the high growth of our business, allowing us to expand our Platform. Our business model is already profitable, and with strategic angels like this on board, we intend to achieve our ambition to disrupt the industry at an even faster pace,” Student Ink co-founder and CEO Nihar Sheth said.