Edtech startup Uolo has secured USD 7 million (about INR 63 crore) in a funding round led by Australian venture capital firm Five Sigma. Moreover, existing investors, including Blume Ventures, Morphosis, and Alicorn, also joined the round.
Furthermore, the Gurugram-based startup intends to deploy the new capital to broaden its network of partner schools, build generative AI-driven learning companions, and enhance its overall product suite. Uolo, which Pallav Pandey, Ankur Pandey, and Badrish Agarwal founded in 2013 as a school communication platform, initially collaborated with 150 schools, according to the YS media platform.
By 2020, a new venture named Uolo Edtech acquired the business, repositioned the company, and appointed Pallav Pandey as co-founder and CEO. Under this renewed strategy, the startup now partners with schools to deliver textbooks across subjects such as English, mathematics, computer science, and general knowledge, while it also offers a home-practice app for students. At present, Uolo claims to serve over 2,500 schools across India and reports more than 1.1 million paying students.
Previously, Uolo had raised USD 22.5 million in a Series A round led by UAE-headquartered Winter Capital (along with Blume Ventures and Morphosis) in 2022, in addition to an earlier seed round in November 2020.
Additionally, the latest funding arrives at a moment when India’s edtech industry is displaying renewed momentum. For instance, Vedantu recently raised USD 11 million in a convertible equity round to accelerate expansion and strengthen its adaptive content and AI capabilities.
Meanwhile, PhysicsWallah has become the first large Indian edtech company to list publicly. In the domestic school-focused edtech ecosystem, Uolo competes with firms such as Unacademy, Toppr, Vedantu, and upGrad, all of which operate within overlapping categories of K–12 learning, online schooling, or test preparation.
