Funding

CollPoll raises funding led by chennai-based seed-stage investor Sprout Angels LLP

Bangalore-based communication and collaboration platform for educational institutes, CollPoll has raised about Rs 2 crore worth of funding led by seed-stage investor Sprout Angels LLP. Other investors who participated in this round include Chenraj Jain, Moloy Kumar Bannerjee and Pallab Bandyopadhyay.

CollPoll raises funding led by chennai-based seed-stage investor Sprout Angels LLP

CollPoll was founded in 2013 by Hemant Sahal, an alumnus of Vellore Institute of Technology, who earlier worked with Adianta School for Leadership and Innovation, Manipal Global Education Services, and the World Bank.

The startup runs a web and mobile-based personalised platform that aims to connect all stakeholders in the education sector easily. CollPoll claims that it can facilitate smooth communication between students, faculty and administrators on its platform. Its clients include the likes of Manipal University, Hubballi-based KLE Technological University and Sonipat-based OP Jindal Global University, among others.

Last year, CollPoll had raised about $295,000 in a seed round from over a dozen individual investors.

According to a joint report by search giant Google and consultancy firm KPMG, the Online education industry is expected to steadily grow almost eight times to hit $1.96 billion by 2021 with the number of paid users rising six-fold to 9.6 million.

There are several ed-tech startups who have raised funding this year. Last month, Vadodara-based ed-tech venture Cerebroz Edutree LLP raised Rs 4.7 crore (about $734,000) in seed funding from Dubai-based high-net-worth individuals. In July, another ed-tech startup PlayAblo, which seeks to engage school students through gamified learning solutions, raised $600,000 from ABI-Showatech (India) Ltd.

There has been a surge in funding from seed stage investors in ed-tech startups.The Chennai-based Sprout Angels which was set up in February 2015 had invested an undisclosed amount in digital education startup EdSix Brain Lab Pvt. Ltd in June 2015. Also, Hyderabad-based Edgefx Technologies Pvt. Ltd raised an undisclosed amount in a bridge round from international angel network Cross Border Angels & Experts, Rajasthan Angel Innovators Network and The Chennai Angels.

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