Online music education platform Spardha raises Rs 8 Crore led by IPV, others

Pune-based Spardha, a digital training platform in online music & performing arts, has raised Rs 8 crore in a pre-Series A2 round led by Inflection Point Ventures, a Gurugram-based angel investment firm.

The round also saw participation from Mumbai Angels and We Founder Circle. Spardha is a digital training platform that leverages a curated curriculum, certified Trainers & cutting-edge technology to offer personalized trainer-assisted online lessons to learners.

Spardha, founded by Saurabh Srivastav, Amrita Srivastav, and Rikhil Jain, will use the raised funding for hiring across sales and operations along with product upgrade. The startup will also focus on brand building and marketing to further expand its presence in the global market, the statement said.

Spardha says its online platform uses a proprietary system to hire, upskill and manage teachers professionally. This system also enables personalized musical journeys for different student personas in a seamless classroom experience virtually, it said.

“In my last 12-month journey with IPV, we received seamless support across various critical functions like Branding, Marketing, Product Development, and Execution from IPV. IPV has successfully developed an eco-system where an early-stage startup like Spardha can not only get funded but can also get all required support to achieve its goals," said Saurabh Srivastav, Founder & CEO.

Spardha is rapidly expanding to the US, UK, Australia, Canada & UAE and claims to have increased its revenue by 10x in the last 14 months.

"I feel blessed to be a part of IPV. If your concept is powerful & if you are committed to make it a success, you will get all required support at IPV to make it a reality. I would like to thank Team IPV for helping Spardha grow manifold & to expand globally in the last 12 months," Saurabh adds.

Speaking on the investment, Ankur Mittal, Co-Founder of Inflection Point Ventures, said" “Music has always been a therapeutic tool with multiple health and mental benefits such as enabling creativity, productivity, enhancing concentration, relieving stress and much more. Spardha with its digital training platform has been successful in catering to the need of music loving audiences across age groups starting as early as 5 for beginners to advanced levels of any age. Their futuristic system enables personalized musical journeys for students and trainers in a seamless classroom experience virtually thus effectively bridging the gap of availability, safety and convenience."

He further added, “Spardha with its curated curriculum, certified Trainers & state-of-the-art technology is expanding rapidly, not only in India but also in the international markets and IPV aims to further extend their support to help them achieve their goals."

Spardha has registered around 400+ freelancer teachers in India to support its global delivery model. The industry has a huge untapped potential where the TAM (Total Addressable Market) is estimated to rise to USD 75 billion by 2025. The sector is growing globally at 18.68% CAGR b/n 2021-2026, it adds.

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