Mohandas Pai backs edtech startup Oust Labs; provides seed funding

 

February 2, 2016:

Edtech startup Oust Labs, has raised an undisclosed seed round from T.V.Mohandas Pai, chairman of Manipal Global Education Services and Aarin Capital.

Founded by former chief marketing officer of InMobi, Shrikant Latkar, Oust Labs offers a gamified platform that helps students excel in Indian competitive exams. It has been running trials of its app in smaller cities of Karnataka since August last year. The company has presence in California, Bangalore, Belagavi and Pune.

“Our goal is to help students to qualify for a better college or job, irrespective of where they are studying right now,” said CEO Latkar.

Oust claims to have a total repository of 125,000 questions across various subjects including physics, chemistry and maths.  It also claims that over 7,000 student currently play their short 2-minute quizzes that consist of five questions on various subjects on their mobile devices.

The company advisors include Paulette Altmaier, former head of partnerships at Khan Academy, Gurmeet Lamba, VP of Engineering of Sentient Technologies (an artificial intelligence company) and Venkatesh Venkataraman, entrepreneur and architect who has worked at several startups and large companies including Cisco Systems and Netflix.

“While the challenge of delivering relevant and high—quality online content is being solved by a number of very promising ventures all over the world, there exists a larger fundamental challenge to engage and retain students’ attention on a constantly evolving paradigm of mobile and social,” said T.V. Mohandas Pai.

The former Infosys executive has invested in over three dozen young tech companies including online media company YourStory, peer-to-peer lending platform Faircent, and vernacular language-driven exam preparation venture OnlineTyari.com.

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