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2015-06-22

IIMA-CIIE\'s incubatee Edsix Brain Lab raises angel round

The current round of angel investment will play a pivotal role in moving Skill Angels into the next orbit and fueling next phase of their growth.

Edsix Brain Lab Private Limited, an incubatee of IIM Ahmedabad’s technology business incubator - Centre for Innovation Incubation and Entrepreneurship (CIIE) has raised undisclosed amount in an angel round led by Sprout Angels LLP.

Founded in 2013, Edsix Brain Lab offers Skill Angels – A gamified 21st century skill assessment and enhancement platform for K-12 Students, developed by a passionate team of educational experts, clinical psychologists and developmental paediatricians to strengthen core cognitive skills essential for effective performance such as critical thinking, learning agility, increased attention span and more. First of its kind, in the cognitive skill development domain in India, Skill Angels offers an extensive suite of 500 plus games with a rich audio-visual online experience that provides self-paced learning, controlled gaming and supports skill development in a fun filled way.

Saravanan Sundaramoorthy, Founder and CEO, Edsix Brain Lab said, “Since our inception, Skill Angels has been delivered across over 15,000 student. We are privileged to be seeded by CIIE and receiving incubation services support from IITM RTBI. The support from our passionate angel investors led by Sprout Angels will be pivotal in our growth going forward. With the funding, Skill Angels aims to expand its services in the B2C segment, strengthening the technology platform enhancements for B2B Integration and supporting our vision to emerge as a nation-wide platform for Cognitive Skill Development.”

Vipul Patel, AVP, CIIE, said, “Skill Angels is strategically poised for immense growth and has the potential to be at the top of the education game arena. The current round of angel investment will play a pivotal role in moving Skill Angels into the next orbit and fueling next phase of their growth. We congratulate Skill Angels team for the outstanding work they are doing and look forward to continue supporting them in their endeavors.”

Edsix had earlier won CIIE-Village Capital’s Tech4Impact Accelerator, 2013. CIIE has also obtained a profitable partial exit from Edsix during this round.

Abhaya Kumar, Chief Advisor, Sprout Angels LLP, said, “Sprout Angels is an angel investor in IT & ITES industry. Market size estimates for game based learning industry globally is around 2 - 3 billion USD in 2015 and projected to grow to 8-9 billion USD by 2017. We see huge potential for educational games in India with a market size of around a 1-1.5 B USD market in next couple of years. We find the product developed by EdSix Lab has global potential. We are excited to invest and see this company grow leaps and bounds.”

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