IIIT Seed Fund invests in learning app Scholr
Hyderabad: IIIT Seed Fund has invested in Scholr, an artificial intelligence (AI)-based learning solution app that provides personalised education at scale.
The fund has been created to invest in technology startups from the IIIT-Hyderabad incubator and startup ecosystem. It is a fund from a network of investors comprising of tech professionals and successful entrepreneurs. Investment is primarily targeted at early stage tech startups involved in technologies like machine learning, computer vision, robotics, AR/VR, natural language processing and other sub-domains of artificial intelligence among others.
India has over 250 million school-going students, yet according to a 2015 report by the UNESCO Institute of Statistics (UIS), the country has a shortfall of 3.7 lakh teachers. This teacher shortage affects not only public schools, but also expensive private schools, where high demand often leads to large class sizes. Students end up enrolling for private tuition outside of school but still lack individualized attention.
To meet this demand, Scholr is developing AI based learning solutions that can provide academic outcomes through personalized education at scale.
Himanshu Nimje, co-founder of Scholr said, "IIIT seed fund has helped Scholr build the deep learning technology behind Scholr. Access to IIITH faculty and researchers has helped us continuously improve our proprietary technology and drive future product development. Our mentors from IIIT seed fund have vast experience of building and operating technology-intensive businesses. They have been able to provide a perfect support structure for business guidance and market access".
Speaking on why IIIT Seed Fund has invested in Scholr, Vikrant Varshney, co-founder & partner, IIIT Seed Fund said, "Education is the primary need of every citizen and with such a large population in India, every school is full of students. Student teacher ratiosaren't favourable towards students, unless their parents can afford admission into premium schools. There is a huge dependency on tutors or tuition academies for quality learning, coupled with rising prices and safety concerns around. Scholr has the ability to deal with all of these problem areas, delivering learning solutions at home, at affordable prices and in desired scale using emerging technologies."