Mumbai Angels and other investors invest INR 8 Cr in digital training platform Spardha as a part of its Pre-Series A2 round
Spardha will leverage the funds to expand its sales and operations team, upgrade its products, build its brand, and ramp up its marketing efforts to gain a stronghold in the global market
Mumbai Angels, a premium platform for private investments, along with others has invested INR 8 Cr in a Series A2 round of funding in Spardha, a digital training platform. Spardha will use the fresh capital to expand its team by hiring for its sales and operations teams and upgrading its products. The company will also be leveraging the funds to build its brand and for ramping up marketing efforts to expand its presence in the global market.
“Increasing consumer propensity for flexibility and reduced cost has made online learning a preferred option worldwide. With geographic barriers fading away in response to the online skilling revolution, there is a huge market yet to be explored. I am confident that Spardha is well placed to exploit this burgeoning glocal demand with its well-established global presence and versatile music platform,” said Nandini Mansighka, CEO & Co-Founder of Mumbai Angels.
“Spardha’s mission is to contribute to the holistic development of our students and teachers. We want to become the most trusted platform for Performing Arts Education globally. We have achieved a healthy user base of 15,000 so far. We are thankful to be backed by marquee investors who have placed their faith in us. We believe this funding will help us achieve our goal of expanding our footprint and augmenting our product offerings,” added Saurabh Srivastav, Founder and CEO of Spardha.
With the help of its curated curriculum, certified trainers, and state-of-the-art technology, Spardha is expanding rapidly not only in India but also in the international markets. Headquartered in Pune, Spardha, offers a unique blend of professional teachers, a result-oriented curriculum, personalized musical journeys for different student personas, and a digital platform where you can perform online, jamming, practice with your friends/peers, compete with your peers, co-create music with your peers and launch your own compositions.
The company plans to garner a user base of 50,000 in the coming months. With more than 400+ certified teachers on its platform across Hindustani, Carnatic, and Western Music, Spardha is one of the fastest-growing online music schools globally. Recently Spardha achieved one more milestone of crossing INR 10 Cr+ ARR in Sales and Renewals. More than 60% of the revenue comes from international markets, i.e., the USA, UK, UAE, Australia, and Singapore.
About Mumbai Angels
Started in 2006, Mumbai Angels, India’s premier platform for private investment holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 700 investors spread across 60+ Global and Indian cities.
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