We Founder Circle Leads Undisclosed Seed Round In Student Ink Edtech startup Student ink plans to utilize 42 per cent of the funds in sales and marketing, 30 per cent in development and hosting, 15 per cent in operations and 13 per cent in support
By Teena Jose
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We Founder Circle (WFC), an early-stage startup investment, has announced they are leading an undisclosed seed round in the edtech startup Student Ink, a corporate entity of Jaynik Eduserve Private Limited. WFC has partnered with several strategic angels to assist the startup in solidifying its operational effectiveness in addition to participating in the investment round. The funds were facilitated through EvolveX, global accelerator programme by We Founder Circle.
"Seeing the ever-increasing demand for edtech education and Student Ink's potential to be a major disruptor, we are excited to have invested in the startup and we promise to provide support to its mission of transforming the education sector in India. Also, at WFC we are dedicated to revitalising the funding to Indian edtech startups, especially at a time when investors have major apprehension of a slowdown," said Gaurav VK Singhvi, co-founder, We Founder Circle.
Founded by Nihar Sheth, Jayraj Jadeja and Kevin Ritter, Student Ink has onboarded over 300 Schools, around 6000 educators and more than 1,60,000 users which effectively achieved an average engagement time of 22 min being spent by a students located across 14 states in India. Further to fundraise, the brand intends to accelerate the onboarding of more students and educators while also boosting the revenue streams. Edtech startup Student ink plans to utilize 42 per cent of the funds in sales and marketing, 30 per cent in development and hosting, 15 per cent in operations and 13 per cent in support, claimed by the company in a statement.
"We sincerely appreciate our lead investor WFC's and all other investors' faith in our model and concept. The investment will pay off and contribute to the hyper growth of our business, allowing us to scale our platform more rapidly. Our business model is already profitable, and with such strategic angels on board, we intend to achieve our ambition of disrupting the industry at an accelerated pace," said Nihar Sheth, co-founder and CEO, Student Ink.
