Five Sigma raises $10.5m to scale AI technology in India
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The news: Australian technology fund Five Sigma has announced the completion of its $10.5 million capital raise for India's education AI company, Uolo.
The funding aims to accelerate the rollout of AI-powered education tools in India’s booming education sector.
The numbers: More than 19,000 schools in India have adopted Uolo supporting over 150,000 teachers and 8 million students across the nation.
The context: The capital raise will help the company advance and develop its GenAI-based learnings across millions of new students.
What they said: "With almost 250 million students and 1.5 million schools across India, this funding will accelerate Uolo’s expansion and help Uolo deliver its life-changing AI-powered learning tools to millions more students,” Five Sigma managing partner Peter Mobbs said.
The source: Five Sigma media release
