India-based and USA firm-backed Qriyo Infolabs grows by 7 times in 8 months, secures investment interest
Idein Ventures backed Qriyo Infolabs from India has received interests for investment from parties across the globe. Qriyo is a brand in extra curricular and co curricular education currently focused on Tier 2 and 3 cities in India.
Sep. 2, 2016 / PRZen / JAIPUR, India -- Indian startup Qriyo Infolabs, which had secured seed funding from UAE-headquartered Idein Ventures in February, this month has grown by around 7 times in its valuation as evaluated by neutral investment bankers. It has also received interests from strategic investors for investment which it has declined at the moment.
Idein Ventures is a venture capital firm with a presence in India, the UAE and the USA. In the USA, it has an office presence in the states of California and Nevada. It is headed by Mahesh Vellaboyina, a US citizen, along with Rajeshwar Prasad from UAE and Ashwin Srivastava from India. It is focused on technology startups from developing countries like India and has associations with the royal family of UAE.
Qriyo started off in a Tier 3 city of India, Jodhpur, with an aim to revolutionise education and fitness in smaller cities of India. It began with an Activity Center where the spending of one hour can lead to knowledge of any extra curricular or co curricular course, and started expanding to home-based learning. Currently, it is operationally profitable in the city and has covered approximately 8% of the heavily disorganised market share of teachers across sectors, thus becoming an undisputed leading brand for any form of education. It has also expanded to a Tier 2 city, Jaipur, and has captured the highest market share than any other probable competition. Its teachers are called Qriyo Gurus, thus establishing their clear difference from other aggregators in the market.
Scalability can be considered the biggest challenge for a company like Qriyo which is against the model of aggregation and focused on providing quality services through their brand. The same is being solved through a myriad of technology solutions created by their team, such as a Match Making Algorithm. It has already established brand presence in some other cities such as Surat, Ahmedabad and Vadodara. Founded by graduates of one of the top technology institutes of India, IIT Bombay, Mudit Jain and Rishabh Jain, Qriyo is increasing its reach and technology on a daily basis and is creating a new form of revolution in India.
Owing to its significant unprecedented growth, Qriyo Infolabs has also received offers of strategic partnership and expansion in countries like the USA and UAE, where a strong need for home-based education exists. At the moment, it plans to serve its country for the next few months before going for a strong expansion.