XSEED Education raises an undisclosed amount
XSEED Education has closed a Series-B investment worth an undisclosed amount from Verlinvest, Belgium-based international venture firm. The fundings will be utilised to scale its footprint to reach 10 million children by strengthening its technology platform, international footprint, and brand in the K-8 elementary education space.
Founded by Ashish Rajpal, a Harvard Education school alum, XSEED is headquartered in Singapore with development centers in Delhi and Bangalore. In eight years XSEED has raced from zero to a million children, quietly disrupting the publisher led school market with its pioneering 5-Step Curriculum cum Training based program that emphasizes skills over memorization. Lighthouse Funds, a Mumbai, and New York-based fund, was the first investor in XSEED in 2010. While not disclosing the exact size of the latest round, company sources confirmed it was significantly larger than its Series A of $ 10 M.
Commenting on the investment, XSEED Founder and Chairman Ashish Rajpal shared “There is an urgent need to re-tailor elementary education to equip children to succeed in the 21st century. Schooling based on rote, memorization, fear, and disregard of individual uniqueness, does not do that. Instead, XSEED is bringing thinking, creativity, and skills, to both teachers and children, in every kind of school.” Elaborating on XSEED’s vision and emphasizing the kind of investors the education sector needs, he said, “Our next goal is to impact ten million children. We seek investors who understand our vision, are long-term in their thinking, and have a value system that supports human development. Verlinvest and Lighthouse are just that, and we are fortunate to have their support.”