An EduTech Startup VoLT has raised an undisclosed amount of seed funding from YMS Mobitech. YMS Mobitech is a tech-based distribution company. VoLT stand for Vocabulary Learning Technique and it is a product of Edutainment Spearheads.
VoLT simplifies vocabulary learning process using Creative Teaching Methodologies says their company website. Their approach includes Innovative approach of Mnemonics, Funny Stories, Anecdotes and Colored Pictures to increase retention. The company claims to have 300,000 downloads, registering monthly growth of close to 125% with over 20 million words learnt till date.
Abhishek Jain, Founder, VoLT, said “Daily over 30 Million people search the web for meanings of various words. With VoLT App, we are targeting a wide range of audience using an innovative, neural-linking process that has a user-friendly interface and is highly addictive. With our Offline Products like Books, Games etc slated to be launched by December-end , we target to become the most powerful and widely-consumed vocabulary learning resource in India catering to school students, aspirants of competitive exams like CAT, GRE, BANK PO, SSC etc, Job seekers and English enthusiasts. We are excited about our strategic partnership with YMS Mobitech as it adds new dimension to our business by bringing the concept to every nook and corner of the country.”
Explaining the rationale behind the investment, Ajay Laddha, co-founder, YMS Mobitech said, “The English language training market in India is expected to touch US$10 Billion by 2018. With enormous weightage given to English Language, huge school-going population and an increasing number of takers of competitive exams, India is positioned as a ripe market. Through its informative and entertaining products, VoLT is fast becoming indispensible for every student and this Strategic Investment will bring this new way of learning to more than 300 towns and cities of India through our existing network.”
Indian education industry is booming currently. According to VCCircle this industry is currently estimated at $100 billion and it is expected to reach $180 billion by 2020. India has one of the largest education systems in the world. It has the world’s largest population attending classes at school, an age bracket of 6 to 17 – about 310 million. With the current enrolment of 260 million, K- 12 segment offers the largest and most attractive segment in the Indian education sector. You will see more EduTech startup raising funds in the future.