Bhanzu, the global math platform, has raised $16.5 million in Series B funding led by Epiq Capital. The round also saw participation from Z3Partners and existing investors Lightspeed Ventures and Eight Roads.

The company plans to deploy the new funding to further expand its market in US.

Bhanzu has achieved 8x growth since its last funding round, positive cash flow, said the company in its statement and has a product-market fit across India, the US, UK, and the Middle East.

Founded in 2020 by world record-holder Neelakantha Bhanu offers a curriculum that helps students increase their proficiency in maths.

Neelakantha Bhanu, Founder and CEO of Bhanzu, said “Students’ enthusiasm and families’ trust are fueling our journey, as demonstrated by a 5X increase in renewals. The U.S. math education market has significant potential, but it is dominated by large, billion-dollar companies that have not innovated their curricula or effectively embraced technology.”

“This gap creates a significant opportunity for Bhanzu to revolutionize math education in the US. Bhanzu’s first-principles approach, strengthened by a robust use case of GenAI in education, aims to make math more intuitive and engaging. We are building Bhanzu in India for the world, with aspirations to become a household name in math education globally” he added.

The funding comes at a time when the edtech sector in India is going through a rough patch with the downfall of Byju’s, once the most valuable edtech startup. Other companies have also seen layoffs, and changes in strategic function to accomodate the return of offline learning.

However, in recent times the skepticism of the sector is waning with sentiments improving.

Recently, edtech major PhysicsWallah raised $210 million in Series B funding from Hornbill Capital and venture capital firm Lightspeed Venture Partners. Existing investors GSV Ventures and WestBridge were also involved. With the offline expansion and listing plans in the pipeline, the new funding round takes the valuation of the edtech major to $2.8 billion, i.e., 2.5 times what it was worth two years ago.

Eruditus has raised a $150 million Series F fundraise led by TPG’s The Rise Fund, with participation from existing investors Softbank Vision Fund 2, Leeds Illuminate, Accel, CPP Investments and the Chan Zuckerberg Initiative.

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