Virtually, India’s first experiential learning app designed to make learning immersive for students in grades 6-12, announced today that it has secured a $5 million strategic investment from NB Ventures (UAE), Earlsfield Capital (UK), Almoe Group of Companies (UAE) and Ncubate Capital (SAR Group’s investment arm) with the prospect of raising Series B funding early next year.
The company will leverage these investments to expand its operations across India, the Middle East and Southeast Asia with a focus on marketing, product development, scaling business and commercial verticals and driving tactical hires to solidify its strong presence in the EdTech sector.
Charu Noheria, Co-Founder and COO of Practically, said: “We are delighted to welcome a new group of investors, as we prepare for the Series B fundraising in the coming months in the goal of making Practically a global brand. The Practically app has also enabled continuous experiential learning for 1.5 million students since its launch during the first lockdown. This strategic investment not only restores investor confidence in the company, but also gives us the momentum needed to improve student learning outcomes and hold teachers accountable. »
The company has already raised $9 million in funding from leading investors such as YourNest Venture Capital, Exfinity Ventures and Siana Capital and with the current round the total investment raised stands at $14 million. .
Neelesh Bhatnagar, Managing Director of NB Ventures, said: “We appreciate this strong and constructive relationship we have established with Practically. Edtech has been a hugely important space for us and we believe in working with brands that are committed to revolutionizing this industry. We support Practically’s vision and strongly believe that through their premium solutions, they will continue to make learning a happier space for students. We look forward to this association growing stronger as it deepens its commitment to the community of educators and students in the coming year.
Virtually has forged a distinct identity as an app that has proven beneficial to schools and students by leveraging the power of advanced technology. Within 16 months of launch, the company hit the milestone of 1.5 million downloads and continues to grow exponentially.