Edutech startup myly secures funds from SIDBI

The Jaipur – based firm, EduCommerce Technologies, which runs the edutech startup, myly, recently announced that it has secured fresh funds from Small Industries Development Bank of India (SIDBI) under the bank’s Startup Mitra scheme. The edutech startup has so far raised Rs. 1.61 crores from various sources. The funds secured from SIDBI will used to scale up, the startup said in a statement. The mobile app of the startup provides various functions like payment of collage/university fees through the app, provides notification on homework given on various courses in various collages/universities and shows circulars, exam results, time tables and videos on various seminars conducted in different collages/universities. The app also hosts videos on various quizzes and other events conducted in colleges. Prior to this round of funding from SIDBI, myly had secured its first seed fund of US $100,000 from Newbie Promoter, an edutech – focused angel investor in December 2015. Read more on Investments

Education is vital to each and every human on this planet. It is what allows a person to contribute to society and grow in life. The facilities what startups’ apps provide like online payment of fees, checking the syllabus and books required online, checking time table and exam results online, checking homework, collage events and seminars online among other facilities have made collage life easier for parents and students. Everybody is able to access quality education/information either free of charge or at very reasonable rate thanks to the education apps of these startups. The Government of India should fund and promote more useful startups like myly. Read more on Startup News

Edutech startup myly secures funds from SIDBI
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