Avishkaar raises Rs 5 cr in funding led by Mumbai Angels, Auxano

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New Delhi, Jun 1 (PTI) Edtech startup Avishkaar on Tuesday said it has raised Rs 5 crore as part of pre-series A round funding from Mumbai Angels Network, Auxano and other angel investors.

The startup said it plans to utilise the funding towards product development, further expansion of its portfolio and hiring talent.

Auxano had earlier invested Rs 5 crore in the company and participated in pre-series A round as well. 'We are quite thrilled to have Auxano further its faith in the Avishkaar story, and we are happy to have the new investors coming on board to take our cause forward,' Avishkaar co-founder and CEO Tarun Bhalla said in a statement.

Avishkaar focuses on robotics, AI, coding, and app development for children between 5 and 15 years of age through its hardware and software products.

'The company will invest in marketing. India will continue to be a focus market this year with enough scope to grow in Tier-I and Tier-II cities while catering to inbound queries from international institutions,' the statement said. PTI PRS BAL BAL

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