K-12 / Education / EdTech

MyClassboard

Date

2020

Sectors

Education

Deal Type

Capital Raise

Deal Location

India

LoEstro advises MyClassboard on its US$600K Pre Series A fundraise from ICICI Bank

MyClassboard is an end-to-end school management software that helps schools to automate and streamline their day-to-day operations. It was founded in 2010 by Ajay Sakhamuri, Founder and CEO and Ravindra Adusumilli, Co-founder and CTO and has been profitable since its inception

Process

LoEstro was the exclusive financial advisor to the team of MyClassboard

Outcome

LoEstro secured a Pre-Series A funding of US$600K for MyClassboard from ICICI Bank. The company was able to raise capital with LoEstro’s support and has planned to use the fund to scale from 15 lakhs students (across 2,500 schools) to 50 lakhs students (across 10,000+ schools). Also, the company plans to use the capital in expanding to the Middle East and South-East Asian markets