Edtech startup Stones2Milestones has raised $2.5 million in a bridge funding round. Of the 320 million schoolgoing children in India, an estimated 9 out of 10 children read below-grade levels, thus making this an imperative problem to solve. The company claims an annualized revenue rate (ARR) of $1.5 million and expects ARR to cross $7.5 million by March 2021. Based on the last 6 months of 100% month-on-month revenue growth, Freadom is on track to hit this target without even a Series A close. Currently, Freadom is the only vertically integrated stack for learning English as a second language and the company will continue to invest in tech-first strategies to further disrupt this space.

Source: Mint November 05, 2020 06:00 UTC