Bhanzu, a math-focused edtech platform, has raised $16.5 million in a Series B funding round led by Epiq Capital and Z3 Partners. Existing investors, including Lightspeed Ventures and Eight Roads, also participated in the round. With this funding, Bhanzu aims to expand its presence in the US market, building on its existing operations in India, the UK, and the Middle East.
The Hyderabad-based startup, founded in 2020, provides experiential math learning courses designed to enhance cognitive abilities in children aged 5 to 16. Bhanzu has already trained over 30,000 students through its various courses. The company claims to have achieved 8x growth since its Series A round and is currently operating at positive cash flow with strong product-market fit across its regions.
Bhanzu’s CEO and co-founder, Neelakantha Bhanu, emphasized the opportunity in the US math education market, which, despite being dominated by large companies, is ripe for innovation. “The gap in innovative curricula and technology adoption presents a significant opportunity for Bhanzu to revolutionize math education in the US,” he said.
Founded in 2020, Bhanzu has now raised more than $33 million to date. The startup’s revenue has grown significantly, with a 13x increase in operating revenue to Rs 47.33 crore in FY23, although losses have also surged to Rs 70.99 crore. Bhanzu competes with other edtech players like Cuemath, Unacademy, Adda247, and Skillmatics.
This funding round reflects a broader recovery in the edtech sector, with other major players like PhysicsWallah, Eruditus, and upGrad also securing substantial funding in recent months.
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