Epic Capital leads $16.5 million funding round in edtech startup Bhanzu
Edtech startup Bhanzu raised $16.5 million (about Rs 139 crore) in a funding round led by venture capital firm Epiq Capital at a valuation of about $120-122 million.
The round also saw participation from Mumbai-based venture fund Z3Partners and existing investors Lightspeed Ventures and Eight Roads.
The funds will be used for expanding its presence in the US and for investing in generative artificial intelligence (Gen AI).
“We'll be spending the majority of our capital on exploring the US market because I think we've gone deeper into it. We've found our product-market fit (PMF). I think expanding there and building a slightly larger leadership team is one priority,” founder and chief executive Neelakantha Bhanu told ET.
“Secondly, we have been at the forefront of Gen AI innovation for the last two years or so. We have launched quite a lot of products. I think we’ll be doubling down on that and building more elaborate asynchronous products,” he said.
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