Maidaan Bags Fresh Funds From IPV, EvolveX
A social edutainment platform Maidaan raised an undisclosed amount in a Pre-seed Round led by Inflection Point Ventures (IPV) and EvolveX. We Founder Circle also participated in the round. The funds will be utilised primarily for driving product development, innovating on content, games, and tournament formats, the company said in a statement.
The company said that it aspires to empower over 100 million Indian students from an early age. Inflection Point Ventures’ Managing Director Rahul Wagh, said, “Today when everything is digital, our education still relies on outdated methods and uninspiring textbooks. Maidaan addresses this by integrating learning into interactive games and quizzes, challenging the conventional notion that education is limited to the classroom. By breaking down the boundaries between learning and gaming, with Maidaan, children can seamlessly blend education with play. It shows a bright and promising future not just to kids but to investors as well.”
Commenting on Maidaan’s potential, EvolveX’s Co-founder Bhawna Bhatnagar, stated, “For most of the students, the first taste of competition beyond school walls occurs at a national level. Being unprepared for this reality results in an unpleasant shock, fostering self-doubt and a lifelong fear of competition, which hinders progress in a competitive life thereafter. Parents are well aware of this challenge but lack easily accessible means to alleviate this fear. Maidaan seeks to transform this narrative by providing every aspiring individual a stage to discover themselves. At EvolveX, we are committed to supporting Maidaan in this mission through continuous assistance, mentorship, and guidance.”
The pilot version of Maidaan has successfully engaged students from over 100 schools spanning across over 25 cities in India.
Maidaan’s Co-founder Judhajit Bal said, “Beyond the top 5 per cent elite in India, millions of students don’t get a chance to experience a world beyond the walls of their schools before Class 12, reducing the potential of social mobility. The only way to solve this is to make exposure-beyond-school truly accessible and affordable in a language and format that students understand and speak themselves. We’re thrilled to have IPV and EvolveX onboard and backing us to solve this.”
In nine months, Maidaan witnessed a tenfold growth in user base to over 2000 users. The supplemental learning segment, encompassing education beyond schooling, is forecasted to reach a significant USD 5 billion market value in India alone by 2030.
