Startup Seizes Opportunity: Is ODA Class Capitalising on Byju's Fall?

In a Series B fundraising round headed by Skywalker Education Technology Co. Ltd. (Singapore), Daituzi Education Technology Corporation Limited, and Matrix Partners China, Bengaluru-based edtech firm ODA Class has raised $500,000. With this round, the business has raised $12.75 million. In 2021, it raised $9 million; in 2022, $3 million; and 2023, $250,000.

Is Edtech startup ODA Class taking advantage of Byju's failure?

For several important reasons, ODA Class might be benefiting from Byju's present financial difficulties:

1. Other edtech firms like ODA Class can acquire those clients if Byju's loses market share due to its problems.

2. Investors may become less inclined to fund big edtech companies due to Byju's struggles, which could benefit smaller, safer startups like ODA Class.

3. Parents and kids may view ODA Class as a more dependable alternative to a more established company that is going through difficult times.

ODA Class is in an excellent position to benefit from Byju's difficulties and possibly increase its presence in the edtech industry.

ODA Class was established in 2019

ODA Class was established in 2019 and provided live online instruction for students in grades 1 through 10, utilising artificial intelligence technologies and creative marketing approaches. The firm, which focuses on offering affordable, high-quality education, says it has over 25,000 long-term students under its belt and hopes to enrol 100,000 by 2024.

Live online classes are one of its best features; they let students communicate with knowledgeable instructors in real time, creating a more exciting learning environment. ODA Class ensures the content is relevant by using artificial intelligence (AI) to deliver personalised learning experiences based on each learner's needs. ODA Class is committed to providing reasonably priced, high-quality education accessible to students. Additionally, the organisation has a group of accomplished educators, including instructors from esteemed colleges like IITs and NITs, guaranteeing that students acquire the best possible mentoring and learning.

The goal of the fundraising

With a particular emphasis on AI integration and digital marketing, ODA Class intends to use the funds raised to grow its product offerings and improve its technological capabilities. "We are in a good position to improve our technological skills with the most recent funding... Neeraj Kumar, Finance Head of ODA Class, stated, "Our focus on AI integration and digital marketing will lead us towards achieving our goal of providing accessible and quality education to students across the country."

Financial Growth of the ODA Class The revenue of the ODA Class increased from Rs 26.90 crore in FY 2021–22 to Rs 63.76 crore in FY 2022–23 and then to Rs 65.81 crore in FY 2023–24. In addition, the firm optimised its expenses, which came to Rs 79.20 crore in FY 2021–22, Rs 107.81 crore in FY 2022–23, and Rs 85.20 crore in FY 2023–24 to be reported.