ODA class raises $500K from investors in Singapore and China

Edtech company ODA Class on Thursday said it has raised USD 500,000 (around Rs 4 crore) in a fresh round of funding from investors in Singapore and China. Skywalker Education Technology Co Ltd. (Singapore), Hong Kong-based Daituzi Education Technology Corporation Limited and Matrix Partners China invested in ODA Class in the Series B funding round. “ODA Class has announced the completion of its Series B funding round by securing USD 5,00,000.

The company is backed by investors who believe in its mission, including Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited and Matrix Partners China,” ODA Class said in a statement. With this new round of funding, the edtech company has raised $12.75 million (approximately Rs 106 crore) from investors. The company raised $9 million in 2021, $3 million in 2022 and another $250,000 in 2023.

“With the latest funding, we are well positioned to enhance our technology capabilities… Our focus on AI integration and digital marketing will lead us to achieve our goal of providing accessible and quality education to students across the country,” ODA Class, Finance Head, Neeraj Kumar said. The company reported a revenue increase to Rs 65.81 crore in FY 2023-24, up from Rs 26.9 crore in FY 2021-22.

“Furthermore, the company remains committed to optimising its expenses, with expenses reported at Rs 79.20 crore in FY 2021-22, Rs 107.81 crore in FY 2022-23 and Rs 85.20 crore in FY 2023-24,” the statement said.