Math Edtech Startup Bhanzu Raises $16.5 million in Series B Round Led by Epiq Capital and Z3 Partners.setTitle Previous backers Lightspeed Ventures and Eight Roads also joined this round. The new capital will be used to further Bhanzu’s ambitions for U.S. expansion, where it wants to bring its unique experiential math education to a wider audience.
With this Series B win, Bhanzu is ready to disrupt math learning and take advantage of the huge potential in the US, reaffirming its commitment to provide engaging educational experiences that equip students globally.
Bhanzu has raised more than $33 million to date, including a $15 million Series A led by Eight Roads Ventures in September 2022. The company has made outstanding progress, growing 8x since then with profitability and strong product-market fit in our key geographies.
Due to its quick expansion, Bhanzu has encountered some financial challenges. In FY23, its revenue soared over 13 times to Rs 47.33 crore, but losses jumped as well till to Rs 70.99 crore. It has welcomed new investments, with Bhanzu representing a trend in similar moves by major EdTech companies like PhysicsWallah, Eruditus and upGrad, suggesting a cautious return to normalcy in the world of EdTech investments.
Bhanzu, founded in 2020 offers interactive math programs that enhance cognitive skills for children between the ages of five and 16. Bhanzu Founder and CEO Neelakantha Bhanu says he thinks Bhanzu can upset the US math education apple-cart, which he characterizes as controlled by big, legacy companies that haven't yet harnessed technological advances.
