Uolo raises Rs 20 cr from Omidyar, Blume Ventures
Mumbai: School communication platform Uolo on Tuesday announced a Rs 20 crore fund raise in a round led by impact investor Omidyar Network India and Blume Ventures.
The money raised will be used for expansion activities on both the technology and operations side, an official statement said, adding it is aiming for a ten-fold growth in its user base in two years.
Uolo partners with private schools to bring the teacher-student-parent community online through its mobile app and helps students continue learning in an online, social and after-school setting. It is presently working with over 10 lakh students across 2,000 schools in 200 cities at present.
It can be noted that there has been a massive shift to online tools of teaching since the beginning of the pandemic, as schools had to be shut.
Blume's director Sajith Pai said Uolo has helped onboard hundreds of schools online during the pandemic.
Omidyar's principal Sarvesh Kanodia said Uolo is enabling schools to become digital through its low-cost, easy to use product offerings and his firm is backing it in their mission to achieve scale.
"In the next 2 years, we plan to bring 20,000 schools comprising 10 million students to build an active online community," the company's co-founder and chief executive Pallav Pandey said.
