ETtech | September 04, 2019
Hyderabad-based educational technology startup 3rdFlix Visual Effects has raised $5 million in a pre-Series A round led by Exfinity Ventures, YourNest, IDFC Parampara and high net-worth individuals also participated in the funding round.
The company plans to use the capital to expand the 6-12th grade segment and launch immersive and experiential content later this year. It also aims to launch in international markets, including the United States, Africa, UAE, and Southeast Asia, in the next 18 months.
“With amazing advancements in spatial computing, combined with artificial intelligence, we are looking at a new era of intelligent, interactive and immersive content that will change the way we learn,” said Subbarao Siddabattula, Founder and CEO of 3rdFlix.
The startup, founded in 2014 by Siddabattula, Ilangovel Thulasimani and Charu Noheria, uses VFX and technologies such as machine learning, artificial intelligence, augmented reality, virtual reality and mixed reality to create life-like intelligent shared experiences for enhanced learning. It focuses on interactive and experiential learning to increase retention and engagement levels among students.
The animation and VFX segment grew 18.7% in FY19, to reach Rs 87.7 billion, mostly driven by animation content on OTT platforms and rising demand from non-entertainment sectors such as education and healthcare.
The sector is expected to grow at a compounded annual growth rate of 16% between FY19 and FY24 and reach Rs 184 billion, according to a report by KPMG.