Uable bags funds from venture capital firm 3one4 Capital

Uable bags funds from 3one4 Capital

Uable bags funds from venture capital firm 3one4 Capital

  • Uable is a Bangalore-based online children development platform on life skills that has earned an undisclosed sum in its seed funding round. It was led by venture capital firm 3one4 Capital, along with the participation of some imminent partners like Amrish Rau (Chief Executive of the Pine Labs), Jitendra Gupta (Founder and CEO of digital banking startup, Jupiter Money), Global Founders Capital (The Berlin-based seed and growth venture capital firm co-founded by Rocket Internet chief Oliver Samwer, AngelList and Inflection Point Ventures).
  • IIT Roorkee alum Saurabh Saxena founded Uable, who had previously co-founded and exited two famous education companies, IIT, engineering and medical entrance teaching institute; Lakshya Forum, that was sold in 2013 to MT Educare and one of the country’s most prominent ed-tech companies; Vedantu.
  • Saurabh’s incredible passion for quality standards and focus on building a scalable peer learning model gives emphasis on the entire children development and alliance with every focus on this platform. This was said by the head of investments at 3one4 Capital, Anurag Ramadasan.
  • Especially with children belonging to the age group of 6-14 are subjected to the Uable platform. It not only nourishes their potent creativity but also offers them both real-life and role-based programs to explore various domains from an early age. The development is on the basis of “future-ready skills”.
  • The programs of Uable concentrates on providing access to multiple innovative roles such as entrepreneur, coder, author, detective and astronaut. There are several other across domains such as art and design, science and technology, programming and tech, mass-communication and entrepreneurship and investigation.
  • Saxena once said that “An antiquated education system is failing our children in an ever-evolving world. Uable is enabling parents, children, and educators to think beyond the classrooms. We are creating learning playgrounds where children are free to imagine a new world, to explore their interests, and to create without the fear of failure”.
  • Uable is working today with several schools across Bangalore and Mumbai referring students about this program. The investment in Uable is currently from 3one4 Capital’s Rs 45 crore seed-stage fund-Rising-I fund – for which it announced in December, a final closure last year. The Rising-I fund mainly supports idea-stage and seed-stage companies with cheque values between Rs 50 lakh – Rs 3.5 Crore backed by a clutch of the firm’s existing and new Limited Partners.
  • Around 10 investments have been announced by the fund till date. This includes the Jupiter Money, Lokal KukuFM and MoneyOnClick. One can follow them on Facebook, Linkedin and Twitter.
  • Uable has been bootstrapped since 2019 and its main aim is to use this fund for his product development. It is looking to build a new category of ed-tech as mentioned earlier, solely focusing on both skill development and creativity. Saxena said that the education system of our country that is quite a traditional one mainly points on traditional forms of education through digital content. There is not much attention paid to creativity.
  • He has also noted that a child’s creativity falls from 98% to 12% between the age group of 6-12. He has also added that being an educator and entrepreneur for the past 15 years and as a professional person he has witnessed the part of the world that strengthens more on conventional education system dealing with content, rank, star teacher, exams, grades, marks and so on. However, over the past few years, Saxena has realized that education must be seen through a different lens rather than pushing the children into a rat race of a conventional system.
  • Saxena’s two ed-tech ventures Lakshya and Vedantu had been built after through optimization. Lakshya was a chain of institutes in North India that focused on competitive exams. It was founded in 2005 and sold off in 2014. Another ed-tech giant Vedantu focused on K12 and test prep. It is only after the closure of these two that Uable took a fresh approach.
  • The dynamic children empowerment programs to explore different domains and develop future-ready skills is a form of the new learning process. Uable believes that this new system of learning is rather fun for every child enabling them to grasp more. Currently, it is hosting free workshops to onboard more children into this new learning experience and is also exploring possibilities of offering free courses.

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