Lead School becomes sixth edtech unicorn of 2022

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Lead School becomes sixth edtech unicorn of 2022

The Mumbai-based Lead School has become India's sixth edtech unicorn after Byju, Unacademy, Eruditus, UpGrad and Vedantu.

The company's 10 year-old company secured a new funding of $100 million at a valuation of $1.1 billion on Thursday. The deal makes it the third unicorn of 2022 after Mamaearth and Fractal.

The Series E round was led by WestBridge Capital and GSV Ventures. The company's valuation has doubled in the last nine months on the back of strong growth in its operating and financial metrics.

The current round is its fifth round of institutional funding since 2017. Lead Schools offers affordable private schools with integrated curriculum and digital-learning solutions.

QED Investors was also an investor in Pune-based FPL Technologies. The company has secured $75 million as part of its Series C funding round, led by its existing investor QED Investors, along with Janchor Partners, Sequoia Capital India, Matrix Partners and Hummingbird Ventures.

While $52 million came in equity funding, $10 million came in debt financing from Trifecta Capital, BlackSoil Capital and Alteria Capital.

The company owns and operates over 100 cloud kitchens across the country, including EatFit, Yumlane, Aligarh House Biryani, Masalabox and CakeZone.

A $50 million funding round led by Brighton Park Capital was led by data analytics and data engineering firm TheMathCompany with participation from existing investor Arihant Patni. The minority investment will help the company's expansion in the US and EU markets.

In a Series A funding round led by Lightbox, March Gaming and Duane Park Ventures, Rooter received $25 million in Game streaming and e-sports platform Rooter. 9 Unicorns, ADvantage, Capital-A and Goal Ventures also participated in the round.

The company claims to have over 8.5 million monthly active users and more than 30 million downloads.