Indian music learning startup banks funding from Inflection Point Ventures

India’s Spardha, a digital platform for music and performing arts, has raised 30 million rupees (U$415,000) in a pre-series A1 round led by local angel investment platform Inflection Point Ventures.

The funding round also included participation from a few high net worth individuals based in the US, according to a statement.

Saurabh Srivastav, the founder and CEO of Spardha / Photo credit: Spardha

Founded in 2016, Spardha provides online courses taught by professional trainers to help students learn instruments and improve their vocals. It offers personalized programs that give students access to progress feedbacks, weekly assignments, and customer roadmaps for long-term development.

The startup said it will use the new funds to bolster its marketing efforts, hire for its sales and product teams, and expand into Singapore, Canada, Australia, and the UK.

According to Spardha, over the last 12 months, it has grown to have over 5,000 registered users and more than 1,300 paying customers in India and the US. The company also shared that it acquired over 500 registered users and 200 paying customers in the US within the first 10 weeks of its launch.

“[Spardha’s] future plans include expanding both the markets and the product offering to include a wider user base,” said Inflection Point Ventures co-founder Ankur Mittal. “Spardha has the potential to replicate the success of some of the leading edtech companies which have similar appeal across other verticals.”

Spardha said it’s looking at a market size of over 40 million potential students in India alone across all age groups. Globally, the company pegged the space as a “multibillion-dollar” market growing at a compound annual growth rate of 18.68%.