Edtech Startup Aviotron Aerospace Secures Investment for Providing Hands-On Education to Young Students

Aviotron Aerospace is a company that specializes in developing and manufacturing aerospace technology. The company offers a range of products and services, including avionics, sensors, intercommunication systems, and testing and certification services. Aviotron Aerospace is a global company with a strong focus on innovation and operational excellence. Some of its notable customers are Aerospace Defense International Association, Space Technology Mission Directorate, and Tauri Drilling Systems.

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Aviotron Aerospace, a Noida-based educational technology startup, has successfully secured INR 4.96 Crore (equivalent to $600K) in funding as part of its Pre-Series A round, courtesy of Enrission India Capital, a venture capital firm backed by SoftBank.

This investment has placed the startup at a post-money valuation of INR 70 Crore.

Aviotron Aerospace, established in 2019 by Vaishnav C, Ashish Kumawat, Neha Chauhan, and Nitin Choyal, is dedicated to providing hands-on learning experiences for students up to class 12. Their focus lies in collaborating with schools to offer innovative educational opportunities.

With this recent financial boost, the company plans to extend its presence throughout India, aiming to reach more students and schools.

Up to now, the startup has partnered with 65 schools in 15 states, serving approximately 20,000 students. Its goal is to extend its reach to schools in 28 states by the end of the year.

In 2022, the startup secured INR 2 Cr in seed funding from undisclosed angel investors, valuing the company at INR 12 Cr.

Aviotron customizes its program for schools at a rate of INR 8,500 per student annually. Additionally, the company asserts it generates an average income ranging from INR 25 Lakhs to INR 30 Lakhs from each school.

In a conversation with Inc42, Neha Chauhan, the founder of the edtech startup, revealed that the company achieved a profit of INR 50 Lakh from a revenue of INR 5 Cr in 2023. Chauhan enthusiastically mentioned that the company is aiming to reach a revenue milestone of INR 45 Cr in 2024.

As it looks ahead to its next phase of expansion, it proudly announces the signing of contracts with over 100 schools, each with a minimum commitment of five years, to introduce its educational solutions.

This fundraising effort arrives amidst significant changes in the Indian edtech landscape. Initially, venture capitalists and private equity firms poured substantial investments into the sector during the peak of the pandemic. However, as schools and colleges resumed operations after lockdowns were lifted, investor interest waned.

Things took a turn for the worse as several challenges cropped up within the startup realm of the industry. These included substantial cash depletion, escalating losses, feeble governance measures, and various other hurdles. Notably, this sector saw the highest number of job cuts compared to others in the past couple of years. A staggering 24 educational technology companies have collectively let go of over 14,616 employees since 2022.

Among the notable players, giants like BYJU’S, Unacademy, and UpGrad are still grappling with significant financial setbacks. On the flip side, smaller names such as Udayy, Supen Learn, and DUX Education had to cease operations due to financial constraints in the last two years.

Investor confidence in this previously thriving sector has been negatively impacted. According to Indian Tech Startup Funding Report 2023, Indian edtech startups were only able to raise a modest $283 million in 2023, a significant 88% year-on-year decline from the $2.4 billion raised in 2022.

Aviotron Aerospace, a prominent edtech startup, has secured INR 4.96 Crore in funding, leading to a post-money valuation of INR 70 Crore. With plans to expand its presence to schools in 28 states, the company has partnered with 65 schools across 15 states, serving 20,000 students. Notably, it aims to achieve a revenue milestone of INR 45 Cr in 2024. However, the edtech landscape has faced challenges such as cash depletion and job cuts, resulting in a decline in investor confidence and the sector’s investment levels.