Ednovate, an edtech company whose idea is to innovate education for Commerce students has received an undisclosed Series A funding from Dr. Vinay Jain, Chairman Witty Group of Institutions, Mr. Ajay Sarupria, well renowned angel investor and Mr. Kaushik Mehta to finance its rapid expansion plan for scaling its operations PAN India and globally.
Dr. Vinay Jain, Founder of Witty Group of Institutions along with angel investors Mr. Ajay Sarupria and Mr. Kaushik Mehta has invested an undisclosed amount in Ednovate, an edtech startup
Speaking on the success of Ednovate latest round of funding, Mr. Ashish Shah, CEO noted, ”Ednovate was born out of passion to provide quality education to CA and commerce stream and to solve the pain points of the students in their journey. We, launched Ednovate during pandemic to revolutionize the Commerce Coaching industry and for the first time provide live interactive zoom lectures to students including doubt solving sessions, test series, Know Your Report and handholding students for their teaching needs.
In a short span of 12 months, Ednovate has more than 2500+ students on board which truly speaks about the quality of our services and education to our students. I want to build a self-sustainable profit-making business for my investors. I am very excited to bring on board Dr. Vinay Jain, Mr. Ajay Sarupria and Kaushik Mehta and look forward for their guidance, mentorship and support.”
Ednovate has four physical branches in Mumbai and has online presence in more than 10 cities and proposes to have PAN Indian presence in next 3-4 years. Ednovate’s broader vision is to utilize the platform strength and expand in phase 1 into various Commerce verticals and to up-sell various products which Company proposes to launch over a period of 5 years. Ednovate follows result-oriented approach through their extensive innovative learning methodologies.
Dr. Vinay Jain, Chairman, Witty Group of Institutions said, “I have seen the journey of Ednovate and I am very proud as to how they have overcome their challenges and come out stronger. Investing for me, personally is about the team. Ednovate Team has high ethics, integrity and strong execution capabilities and I think team has the potential to make this Company as the next unicorn in the edtech space. I am glad to partner with Ednovate in their growth journey of innovating education.”
Mr. Ajay Sarupria, “Ednovate is truly an inspiring story of how challenges can be converted into opportunities and how the team cohesiveness is so important to take any organization to greater heights. The team has clarity of thoughts for their phase wise realistic expansion plan which I think is very important for any start-up to grow. I am sure to see Ednovate in next league of Companies which may change the definition of unicorn.”
Mr. Kaushik Mehta, “I have been with Ednovate when it was on paper and I am glad to see this team scale new heights with their sheer grit and determination. I am happy to participate again in their Series A round funding.”
The Team including CA Ashish Shah, CA Dhawal Purohit, CA Sagar Vora, CA Karan Sheth and CA Rahul Modi, strongly believes in the below quote by Maya Angelou, “You may encounter many defeats but you must not be defeated. In fact, it may be necessary to encounter the defeats so you can know who you are, what you can rise from, how you can still come out of it.”
Ednovate started operations on March 1, 2021 as a platform for Commerce students and aims to provide one-stop shop solution to CA students and handhold them through their entire journey of CA. It is currently servicing commerce and CA students and proposes to foray into CS, CFA and other courses. Ednovate is conceptualized to solve the pain points in Chartered Accountancy (‘CA’) and Commerce Coaching and aims to revolutionize and innovate teaching methodologies for the unorganized coaching industry in India. Ednovate was pioneer in starting zoom live interactive classes for CA students during pandemic.
Ednovate was envisioned by team of well renowned professors with a vision to bring quality in professional teaching at students’ doorsteps.