Education services provider, Chrysalis which is operated by EZ Vidya Pvt. Ltd, has raised an undisclosed amount in fresh capital from two institutional investors.
The company said in a statement that Menterra Venture Advisors, a social impact-focused venture capital fund, and The Artha Initiative, an impact investment initiative associated with Switzerland-based Rianta Capital, had participated in the funding round.
Chennai-based Chrysalis will use the money for research and development.
The company had raised pre-Series A investment earlier this year from impact investor Gray Matters Capital.
“Affordable private schools constitute a large chunk of our school system, and we intend to reach out to every school in this segment,” said Chitra Ravi, founder and chief executive of Chrysalis.
Founded in 2001 by Ravi, Chrysalis provides academic and learning assessment solutions to schools and children. Its flagship product is ThinkRoom, an academic programme developed in-house.
Last year, Chrysalis introduced Buzzle Cards, which helps impart core concepts of mathematics and English using augmented reality through an app. The app animates images on cards, making the learning experience immersive for the student.
“We need organisations focused on the difficult trinity of learning outcomes, sound economic fundamentals and impact on underprivileged students,” said Maya Chandrasekaran, education lead at Menterra.
Chrysalis claims to have reached out to 2.5 lakh students across 11 states and 500-plus schools.
