Vedantu's cofounder Saurabh Saxena manages fund from 3one4 Capital
Uable, a startup platform formed by Vedantu’s co founder Saurabh Saxena, has raised an undisclosed amount in seed funding for product/brand development, technology and hiring talent.
The seed round is led by 3One4 Capital. PineLabs’ CEO Amrish Rau, Jupiter founder and CEO Jitendra Gupta, Global Founders Capital, Inflection Point Ventures, and AngelList have also participated in the round.
Saxena said that the company has been frugal in terms of its spending so far, but now that it has enough experience and feedback from clients it plans to develop the product further. The company has been bootstrapped since December 2019, he added.
Uable is looking to build a new category of edtech which solely focuses on skill development without giving creativity a miss. Saxena said that the traditional education system is focusing solely on traditional forms of education through digital content, without paying much heed to creativity.
Uable offers real-life role-based programmes to empower children to explore different domains at an early age and develop future-ready skills for roles in science & technology, art and design, programming and tech, and more. The company believes that this process makes learning truly fun for the children and helps them grasp more. Though it is a subscription-only model, the company is exploring possibilities of offering certain courses for free.
Currently, Uable hosts free workshops to onboard more children into this learning experience. Saxena has claimed that they have received great feedback from both children and parents.
He also emphasised that the 21-century parents understand the need for creativity in learning and are willing to pay for it, but there are hardly any solutions catering to this need. The fact that Uable is focused on the creativity aspect and has a scalable revenue model has gone down well with the investors, Saxena added.
Overall, the edtech domain has seen a spurt during the Covid-19 pandemic and the resultant lockdown. As traditional forms of learning seem too far to reach out, parents and traditional institutions have turned to digital education. Schools are either relying on already setup edtech ventures, or are relying on video conferencing platforms to teach.