The financing round was led by Matrix Partners India, 021 Capital, Gemba Capital and other angel investors including Flipkart CEO Kalyan Krishnamurthy, Udaan co-founder Sujeet Kumar and PhonePe co-founder Rahul Chari.
Founded last year, the Bengaluru-based startup offers yoga, dance, and art and craft classes. More than 2,000 children have signed up on the platform so far.
“The new education policy talks about how education should be more holistic; it says that arts and vocational training should be part of the curriculum. There is increased awareness of the need for a creative way of learning,” Bansal said.
“The extracurricular activity for children is a $10 billion+ market opportunity in India alone,” said Rajat Agarwal, managing director at Matrix India. “Demand for online learning has sky-rocketed over the last twelve months with parents looking for holistic development of their children.”
Bansal said he is not too concerned about how things will change for Crejo once the pandemic subsides. “Earlier, there was a barrier. There was a perception that these classes couldn’t be held online. Finding a good quality yoga or dance teacher is a difficult task. Then there’s the hassle of working parents having to take their child to the class. We address travel and safety concerns of parents.”
Momentum is building in the extracurricular learning space with a multitude of courses being offered from chess to creative writing to sports.
Kyt, founded by Bhavik Rathod, the former head of Uber Eats, raised $2.5 million in November in a funding round led by Sequoia’s Surge. It offers classes in music, public speaking and dance among others.
Frontrow has offerings in the creative arts taught by celebrities.
“In some of our courses, we are adding more teachers, but there aren’t enough slots to fulfil the demand that parents and children are looking for,” Bansal said.