Hyderabad-based Practically secures $5 million
Hyderabad: Practically, an experiential learning app designed to make learning immersive for students of classes 6-12, secured a strategic investment of $5 million (about Rs 38 crore).
The investment comes from NB Ventures (UAE), Earlsfield Capital (UK), Almoe Group of Companies (UAE) and Ncubate Capital (part of The SAR Group) in the run-up to raising Series B funding early next year.
The Hyderabad-based company will leverage these investments to expand its operations across India, Middle East, and Southeast Asia with a focus on marketing, product development, scaling up the business and sales verticals, and driving tactical hiring to consolidate its foothold in the EdTech sector.
The company has previously raised $9 million funding from investors such as YourNest Venture Capital, Exfinity Ventures, and Siana Capital and with the current round the total investment raised stands at $14 million (over Rs 100 crore).
Charu Noheria, co-founder and COO, Practically, said, the app has enabled continued experiential learning for 1.5 million students since its launch during the first lockdown.
Commenting on the investment, Neelesh Bhatnagar, MD of NB Ventures said, “We are supportive of Practically’s vision and firmly believe that through their high-end solutions they will continue to make learning a happier space for students.”
Within 16 months of the app launch, the company has reached the milestone of 1.5 million downloads and continues to grow, Practically said.
Founded in 2018 by Subbarao Siddabattula, founder & CEO, Charu Noheria, co-founder & COO, and Ilangovel Thulasimani, co-founder & CTO, Practically uses next-generation interactive methods, such as Augmented Reality (AR), Simulations and 3D videos for an enhanced learning experience.
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