Bhanzu, an edtech startup focused on math education, has secured $16.5 million in its Series B funding round. The round was led by Epiq Capital and Z3 Partners, with participation from existing investors Lightspeed Ventures and Eight Roads.
The fresh capital will be used by Bhanzu to expand its presence in the lucrative U.S. market, where the company sees significant potential. Founded in 2020, Bhanzu provides experiential math learning courses that aim to enhance cognitive abilities in children aged 5 to 16.
“The U.S. math education market has significant potential, but it is dominated by large, billion-dollar companies that have not innovated their curricula or effectively embraced technology,” said Neelakantha Bhanu, co-founder and CEO of Bhanzu. “This gap creates a significant opportunity for Bhanzu to revolutionize math education in the U.S.”
Since its last funding round in September 2022, when Bhanzu raised $15 million, the company claims to have achieved 8x growth. It has also reported positive cash flow and a strong product-market fit across the markets it operates in, which include India, the U.S., the U.K., and the Middle East.
The edtech sector has seen a resurgence in funding after a slowdown, with several significant deals announced recently. This includes $210 million for PhysicsWallah, $150 million for Eruditus, and $60 million for upGrad.
Bhanzu competes with other math-focused edtech platforms like Cuemath, Unacademy, Adda247, and Skillmatics. With this fresh infusion of capital, the company aims to solidify its position in the rapidly evolving edtech landscape.
