Uolo, an edtech startup, has raised $7 million in a new funding round led by Five Sigma, an Australian-based global EdTech fund.
The round also saw participation from existing investors Blume Ventures, Morphosis Venture Capital, and Alicorn Venture Partners also participated in the funding round.
The funds raised will be used to roll out its AI-powered education tools in India, deepen engagement, improve student motivation, and drive better outcomes, both in school and at home. The funds will also be used to develop its GenAI-based learning companions.
The Bengaluru-based company previously raised $3 million in seed funding led by Blume in November 2020.
Founded in 2020 by Pallav Pandey and Ankur Pandey, Uolo is an education AI company working with schools to make education affordable and effective.
Uolo’s AI-driven learning programs empower schools across India to nurture future-ready students by bringing the world’s best learning experiences into classrooms and homes.
Its textbooks and AI-powered learning programs connect school learning with home practice, helping students build habits and stay motivated beyond classroom hours. At the center is the student, supported by teachers, schools, and parents, with AI coordinating their efforts to keep learning on track and moving forward
Uolo’s innovative solutions have already been adopted by more than 19,000 schools in India, supporting over 150,000 teachers and eight million students across the nation.
Pallav Pandey, CEO of Uolo, said, “Uolo’s vision is to make education affordable, accessible and effective for every student in India. This new funding will help Uolo partner with more schools across India to make learning more engaging and address a core challenge for teachers today: maintaining adherence and consistency once students leave the classroom. We believe AI works best not as a separate experience, but as a companion to school education, helping students sustain habits and motivation beyond classroom hours. Uolo’s AI-powered solutions can extend a school’s support structure into the home, helping to improve student outcomes.”
Peter Mobbs, Managing Partner at Five Sigma, said, “As a global EdTech investor focused on the future of learning and work, we believe the opportunity for AI technology in the education sector is immense. We’re proud to have led this funding round and to continue backing Uolo as the company realises its ambitious expansion plans in one of the world’s fastest-growing markets.”
“With almost 250 million students and 1.5 million schools across India, this funding will accelerate Uolo’s expansion in what is increasingly becoming an education-obsessed nation and help Uolo deliver its life-changing AI-powered learning tools to millions more students. Uolo’s deep school relationships, world-leading technology and smart business model provide a clear path for growth. This funding will boost the company in its efforts to build AI technology that becomes part of the daily learning experience for students, helping to deliver a meaningful, long-lasting impact in the lives of millions of students,” he adds.
