Ed tech platform Classplus has raised $70 million in a Series D round co-led by Alpha Wave Global and Tiger Global Management.

New investor Abu Dhabi-based Chimera Ventures and previous backer RTP Global also took part in the investment.

The round has more than doubled the startup’s valuation, which has reached almost $600 million.

The company intends to use the fresh capital to further boost its expansion across India and broaden its product offering.

Co-founded by Mukul Rustagi and Bhaswat Agarwal in 2018 and based in Noida, Classplus provides a platform that helps teachers and educators create, manage and sell content and courses to students.  

Mukul Rustagi, said: “We’ll be deploying the funds to take our product up by notches and expand our presence globally. Going forward, we’ll also be investing in new acquisitions and partnerships that will enable us to continue delivering best-in-class experience to the educators and helping them create an impact in the education system by building bigger and stronger businesses.”

Classplus raised a $65 million Series C round led by Tiger Global and backed by GSV Ventures, Alpha Wave, Blume Ventures and RTP Global in June 2021. 

The startup has recently announced its further expansion in several international markets, including Singapore, Vietnam and Malaysia.

Date published: 29 March 2022

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