SUMMARY
- Bhanzu, founded by “human calculator” Neelakantha Bhanu Prakash, is set to raise Rs 140 crore, driving renewed interest in India’s edtech space.
- Following challenges from Byju’s, investor confidence returns with significant funding rounds for Bhanzu, PhysicsWallah, and others.
- Bhanzu’s growth focus includes expanding in India and exploring new markets like the U.S.
Bhanzu, a math-focused edtech platform established by Neelakantha Bhanu Prakash, is nearing the completion of a major Rs 130-140 crore ($16-17 million) funding round led by Epiq Capital and Z3Partners. This investment values the Lightspeed-backed startup at approximately $115-120 million, up from its previous $100 million valuation in 2022, signaling a positive trajectory for the Indian edtech sector.
The funding marks Epiq Capital and Z3Partners’ debut in edtech, both firms known for backing high-growth companies across other industries. Epiq Capital has previously invested in Lenskart and Zepto, while Z3Partners counts MakeMyTrip and BigBasket among its portfolio. This new financial support follows Bhanzu’s Series A round in 2022, when it raised $15 million from Eight Roads Ventures.
India’s edtech industry faced a turbulent period after Byju’s faced setbacks, amplified by a shift toward offline learning as the pandemic waned. Yet, recent funding for companies such as PhysicsWallah ($210 million), Eruditus ($150 million), and UpGrad ($60 million) indicates investor optimism. This influx reflects a gradual recovery in edtech, spurred by demand for digital learning solutions that complement offline education.
Founded in 2021, Bhanzu’s mission is to overcome math-related anxieties among students. Neelakantha Bhanu Prakash, Bhanzu’s founder, is a celebrated “human calculator” holding multiple world records for mental calculation and a gold medalist at the Mind Sports Olympiad. His engaging, math-focused curriculum has seen Bhanzu conduct over 3 million teaching hours, benefitting over 30,000 students across 16 countries.
With new funds, Bhanzu intends to reinforce its presence in India and explore international expansion, with the U.S. as a target market. Bhanzu’s innovative approach and commitment to math excellence position it uniquely in the evolving edtech landscape.
