Math-focussed EdTech startup Bhanzu has secured $16.5 million in a Series B funding round, led by Epiq Capital and Z3 Partners, with support from existing investors Lightspeed Ventures and Eight Roads. The new capital will fuel Bhanzu’s expansion into the US market, where the company aims to bring its unique and experiential math learning approach to a wider audience.
With its Series B round, Bhanzu looks forward to reshape math education and tapping into the US market’s potential, underscoring its commitment to innovative learning experiences that empower students worldwide.
Since its inception, Bhanzu has raised over $33 million, including a $15 million Series A round led by Eight Roads Ventures in September 2022. The company reports an impressive 8x growth since then, along with positive cash flow and strong product-market fit in its core regions.
Despite its rapid growth, Bhanzu has faced financial challenges. In FY23, its revenue surged over 13-fold to Rs 47.33 crore, but losses also increased, reaching Rs 70.99 crore. As Bhanzu positions itself for further growth, it joins other prominent EdTech players securing new investments, including PhysicsWallah, Eruditus and upGrad, signaling a cautious rebound in ETdech funding.
Founded in 2020, Bhanzu offers interactive math programmes designed to enhance cognitive skills for children aged five to 16 years. Neelakantha Bhanu, Founder and Chief Executive Officer (CEO), believes Bhanzu can disrupt the US math education sector, which, he describes, as dominated by large, established companies that have yet to fully embrace technological innovation.