Private Equity Fund Investments
Edtech startup Classplus raises $30-M led by GSV Ventures
Noida-based edtech startup Classplus, which enables teachers and coaching institutes to create their online presence, has raised USD 30 million (INR 218.85 Cr) in a Series C1 funding round led by US-based GSV Ventures with participation from existing investors Blume Ventures, RTP Global and Falcon Edge Capital. GSV Ventures (via GSV Ventures Fund II LP) invested INR 98.56 Cr,Falcon Edge Capital (via Alpha Wave Incubation LP) invested INR 72.77 Cr, RTP Global invested INR 25.55 Cr and Blume Ventures (via Blume Ventures India Fund III) invested INR 21.97 Cr. The company has allotted 17,762 Series C1 CCCPS to the investors constituting 23.02% stake of the company on a fully diluted basis. The equity valuation of the company, which had reported a turnover of INR 4.40 Cr for FY20, stood at INR 950.76 Cr.
From the Venture Intelligence PE-VC Deal Database: Between Sep-17 and Sep-20, Classplus had raised about USD 25 million from Blume Ventures, Sequoia Capital India, Strive VC, Spiral Ventures Rising Stars, RTP Global and Falcon Edge Capital (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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