5 Key Takeaways
- SpeakX, an AI-based edtech startup, is raising $11 million in a pre-Series B round led by Elevation Capital and joined by WestBridge Capital.
- The funding round also includes participation from Breadlake Ventures and angel investors such as Charles Songhurst, Ashish Jain, and Siddharth Kohli.
- SpeakX is being valued at around $50 million in this round and has already achieved EBITDA profitability in Q4 FY25.
- The company pivoted in 2023 from offering free extracurricular classes for children to providing AI-driven, real-time English learning experiences.
- SpeakX's net loss reduced to INR 6 Cr in FY24 from INR 14.9 Cr the previous year, with sales of INR 33.4 Lakh.
SpeakX: The Edtech Startup Raising $11 Million to Help Kids Learn English with AI
If you’re a parent or someone interested in the world of education technology, you might want to keep an eye on SpeakX, an Indian startup that’s making waves in the edtech space. SpeakX, which was earlier known as Yellow Class, is about to raise a whopping $11 million (around ₹96 crore) in its latest funding round. This money is coming from big investors like Elevation Capital (who have backed them before) and WestBridge Capital, along with Breadlake Ventures and several well-known angel investors.
What Does SpeakX Do?
SpeakX started in 2020, founded by Arpit Mittal and Anshul Gupta. Back then, as Yellow Class, it offered free online classes for kids aged 3 to 12. These classes covered everything from art and dance to yoga and general knowledge—over 40 different activities! The idea was to help children learn new skills outside of their regular schoolwork.
But in January 2024, the company changed direction. They rebranded as SpeakX and shifted their focus to helping kids improve their English speaking skills. What’s unique is that SpeakX uses artificial intelligence (AI) to create real-time conversations, so children can practice and get better at English in a fun, interactive way.
Why Are Investors Excited?
SpeakX is raising this new round of funding at a company valuation of about $50 million. The fresh funds will be used to make their technology even better. According to sources, SpeakX has already started making a profit (at least in the last quarter of the previous financial year), which is a big deal for a young startup.
The company has also been recognized by Google, being selected for the first batch of the ‘Google for Startups Accelerator: AI First’ program. This gave them three months of support to help grow their AI-powered business.
How’s the Business Doing?
Financially, SpeakX is moving in the right direction. Their losses dropped from ₹14.9 crore in the previous year to ₹6 crore in the year ending March 2024. Their sales for the same period were ₹33.4 lakh. While these numbers might seem small, the trend is positive, and the new funding should help them grow even faster.
The Bigger Picture
India’s AI startup scene is booming, with the market expected to reach $17 billion by 2030. SpeakX is riding this wave, using AI to make learning English more accessible and engaging for kids.
In short, SpeakX is a startup to watch—especially if you care about how technology can make learning better for the next generation.
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