Education technology start-up IMAX Program has raised $13.5 million from the Michael & Susan Dell Foundation, LGT Impact Ventures, and existing investor Aspada.
Bangalore-based IMAX Program that serves 800+ schools and 300,000 students across India is providing curriculum services to K-12 schools in India.
IMAX Program will use the funds to further innovate the product, enhance in-school service experience and expand the customer base through multiple distribution channels. IMAX will explore working with K12 publishers internationally, to deliver in-school remedial programs to a global student base.
IMAX Program has a team of 300 members led by the co-founders Varun Kumar and Naveen Mandava, CBO Janardan Singh, and CTO Yogi Kulkarni.
IMAX Program focuses on textbooks, workbooks, school exams, feedback reports and individual remedial worksheets along with teacher manuals and teacher training modules. The program uses school exam data to provide individual remedial worksheets.
The education technology platform works at the backend to deliver exams, reports and remedial worksheets in print to ensure smooth integration with schools. IMAX Program has delivered more than 1.7 million individualised remedial worksheets.
Varun Kumar, co-founder of IMAX Program, said, “We will deliver a better experience for our customers and partners, and accelerate the expansion of our commercial operations in India. We will also be selectively looking at prospective markets abroad. We aim to impact 2 million students by 2020.”
IMAX conducted more than 500,000 assessments across 11 states in India, developing a deep understanding of classroom transactions and student learning. This helped them conceptualise and build an innovative curriculum program leveraging internal school exams in the process.
In 2015, Aspada invested $1.8 million to help IMAX implement education technology to the classrooms to enhance school’s ability to measure and impact learning outcomes effectively.