An India-based, Russian-rooted EdTech startup, Сoding Invaders, has raised $250,000 from the national investment fund Dome Foundation and angel investors, whose names the company is not disclosing.
As Forbes learned from sources inside the startup, the deal closed in February, and only now have the company and the fund decided to announce an investment partnership.
The Coding Invaders startup was founded in 2021 by the creators of the SkillFactory educational platform Alexander Eroshkin and Alexander Turilin. The new project is also part of Skillbox Holding Limited and develops complex products with online classes (mainly in programming and big data analysis).
To launch the business, the entrepreneurs invested $300,000 of their own funds in the startup and then raised $700,000 for pre-seed from venture funds S16VC and A. Partners with Russian roots and business angel Sergey Solonin, the founder of the operator electronic payment company Qiwi, which financed the project as a private investor.
The project was originally planned to take place in India, since its authors fell in love with this country in 2020 and purposely looked towards this market. As a result, more than 20,000 Indian students have been trained on the platform so far.
The average cost of a program in Coding Invaders is $1100 (the value is determined by, among other things, the promised mentoring and assistance in finding a job after the course is over). And the company’s median monthly revenue in 2022 was $425,000.
Author:
Ekaterina Alipova
Source: RB
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