Educational Startup Neostencil has raised $1 Million of funding from media house firm Times Group and California-Based Paragon Trusts. 91Springboard, M&S Partners Pvt. Ltd founder Hirokazu Mashita and Jabong co-founder Praveen Sinha also took part in this round.
The startup was founded in the year 2014 by AIIMS and IIM-Ahmadabad alumnus Luv and Kush Beejal. NeoStencil is India’s only Edtech startup that provides live online classrooms. They provide online coaching which makes better interaction with students and allows them to clear their doubts by live streaming.
Previously, Luv and Kush Beejal worked as an investment banker on Wall Street and was CEO for a Health Care startup. Both of them have over eight years experience in the industry. The startup raised $60,000 (Rs 38 lakh) in May 2015 from Paragon Trust and US-based entrepreneur Dr. Piyush Dhanuka.
NeoStencil have over half-a-million student who undergo online classes and has 150 courses to offer. Both live and recorded classes are available for students from top lecturers of the country. The site will also provide online tests and study materials.
“Learning cannot happen in isolation through outdated or pre-recorded videos, nor can anyone become a teacher overnight by starting online or offline courses. More than a disruptive technology, we are an enabler and transformer of quality education,” says Kush Beejal.
The freshly raised funds will be used in developing an application for NeoStencil, marketing expenses, improving user’s interface and offering new courses in Judiciary, banking etc. Read more about Edtech startups.