City-based early childhood education start-up, Flinto Learning Solutions, has closed a Pre-Series B funding of $7.2 million (₹50 crore approximately) led by Lightbox Ventures.
The start-up has also launched a new initiative called Flintoclass@HOME, an alternative to pre-school during the COVID-19 pandemic. The firm will be using this fresh flow of capital to support its rapid growth in the early learning space and to expand its newly-launched pre-school solution.
“We don’t want COVID-19 to come in the way of a child’s learning. For children below 6 years of age, monotonous online classes can’t be a substitute for the multi-sensory experiences that they deserve. We wanted to ensure that children continue receiving structured, hands-on learning without compromising their safety. With our expertise in early childhood education over the past seven years and an already successful pre-school model, we came up with Flintoclass@HOME -- a blended preschool learning experience,” said Arunprasad Durairaj, CEO and co-founder of Flinto Learning Solutions.
“Every month, parents receive at their doorstep, an easy-to-use pre-school kit with daily hands-on activities for children, along with pre-recorded interactive sessions with our educators. In less than a month, we have had 3,000 enrolments,” he added.
“In five years, we wish to make Flinto synonymous with early learning so that every child grows through a Flinto environment,” said Shreenidhi S.P., the CTO and co-founder of Flinto Learning Solutions.
The Chennai head-quartered start-up, during the financial year April 2019 to March 2020 crossed ₹40 crore in revenue, and intends to double its revenue this year.
With children being at home since schools are shut, the start-up witnessed a high demand during the lockdown which commenced from the end of March. “In fact, now more than ever, parents have been seeking hands-on activities to engage their children at home. We saw an increased demand for our products during the COVID-19 lockdown. We foresee a 200% growth,” said Vijay Babu Gandhi, COO and co-founder of Flinto Learning Solutions.
To ensure that the safety of the child is not compromised, the firm said that it is adhering to the safety standards set by the World Health Organisation. “Like any e-commerce brand, our product is packed and shipped in a covered box. However, as a means of extra precaution, we also advise parents to keep the box aside for a couple of days before using it,” Mr Gandhi told The Hindu .
Prashant Mehta, partner at Lightbox, explained that by kindergarten, 90% of a child’s brain capacity develops, yet only 10-15% of the funding is allocated towards early learning, globally. The resources for early learning are sparse, and a curriculum with a child-centred pedagogy is rare. “At Flinto, we see an opportunity in addressing the unique needs of early learning by co-creating products with children, parents and educators,” he said.
Over the past seven years, Flinto has raised a total of $17 million. The first round of funding was ₹15 lakh raised through GSF accelerator in September 2013. Post 2013, the start-up received several rounds of funding. In 2018, InnoVen Capital, Asia’s leading venture debt and speciality lending firm, made a debt investment of ₹6 crore.
