Ulipsu raises 1.5 million USD
Bengaluru: Bengaluru-based Ulipsu, India’s first multipotential OTT-like learning platform from Kidvento Education and Research Private Limited, recently raised $1.5 million in funding from angel investors based in the Middle East the UK. This investment round is an addition to the initial $1 million USD Pre-Series A round funding received in October 2021. With this, the Pre-Series A fundraising round has amounted to 2.5 million USD.
The current round of fundraising will be used to improve overall product service, boost consumer engagement through strengthening the technology stack, gamification, and analytics for real-time user data evaluation, scale operations, and increase sales via new consumer acquisition initiatives.
The first round of funding was utilized for content, curriculum research and development, acquiring an initial set of customers, and building the platform.
Screens have become an undeniable part of children. Therefore, Ulipsu is on a mission to create a healthy relationship by transforming passive screen time into active screen time with age-appropriate, engaging learning content.
The brand offers structured learning opportunities for children ages 6 to 16. The vast repertoire of curated ‘bit-sized‘ courses covers 10+ skills, from music to art & craft, yoga to life skills, STEM projects to artificial intelligence, and many more, in just one subscription. Ulipsu courses align with the National Education Policy (NEP) of holistic child development and inclusion in digital learning.
With the brand positioning of ‘Learn what you wish to‘, Ulipsu is committed to democratizing learning, letting young people explore and learn at their own pace and space. Ulipsu subscriptions are cost-effective and don’t require parents to pay separately for each course.
Ulipsu is ever-growing, with new courses uploaded weekly that are accessible through a single subscription. Ulipsu plans to have over 300 courses spanning 15+ skills by March 2023 and aims to secure over 300,000 paid subscribers by the middle of 2023.
At the moment, Kidvento employs more than 100 people and generates close to 1 million USD in sales annually.
Expressing his optimism over the new round of funding, Sumanth Prabhu, Co-founder & CEO of Ulipsu said, “Education as a market has been a hotbed of experimentation, and the Indian consumers are leading the market in style with their mature understanding of the product differentiation and value available to them. In that sense, we are at the right place at the right time. Our investors clearly understand this and strongly believe in the possibility of what Ulipsu could be! In 2 years, we will be the world’s largest curated platform for skill learning for young minds.“
Nikhil Bhaskar, Co-founder & CTO, said, “We have a competitive advantage in the skill learning market as we truly understand our TG, whether the product or the technology. We are delighted that our investors find value in our business proposition. We are currently strengthening our product portfolio focusing on technology-driven gamified content.”