Aviotron Aerospace, a startup based in Noida that focuses on education technology (edtech), has secured Rs 4.96 crore (about $600K) in funding before its Series A round from Enrission India Capital, a venture capital firm supported by SoftBank.
The investment has pushed the company’s valuation after the funding to Rs 70 crore. Aviotron Aerospace kicked off its journey in 2019, initiated by Vaishnav C, Ashish Kumawat, Neha Chauhan, and Nitin Choyal, with the aim of revolutionizing how students learn about aerospace and mechanical technologies.
Aviotron Aerospace concentrates on hands-on learning, aiming to equip students with essential skills for the 21st century, such as creativity, innovation, and problem-solving. The startup collaborates with schools to offer learning solutions based on STEAM (Science, Technology, Engineering, Arts, and Mathematics), covering subjects like Aerospace, Space-Ed, and Design Thinking.
According to Aviotron, its primary offering, ‘AeroBay,’ has gained significant traction in educational hubs like Noida, Jaipur, and Nagpur.
With this recent funding, Aviotron intends to expand its reach across India, with plans to target schools in all 28 states by the end of the year. Up to now, the startup has partnered with 65 schools in 15 states, benefiting around 20,000 students.
The startup’s revenue model involves tailoring its program for schools at a cost of Rs 8,500 per student annually, with an average revenue of Rs 25 lakh to Rs 30 lakh from each school. In 2023, Aviotron Aerospace achieved a profit of Rs 50 lakh from a revenue of Rs 5 crore. Its target for 2024 is to reach a revenue milestone of Rs 45 crore.
This funding arrives at a critical juncture for the Indian edtech sector. Initially boosted by the pandemic, which led to increased investments, the sector has faced challenges as educational institutions reopened. Issues such as depletion of funds, governance problems, and a surge in job cuts have resulted in a decline in investor confidence.