After-school future learning platform Homi Lab has raised a pre-Series A round of Rs 5 crore from Inflection Point Ventures. The startup said in a June 1 press release that the funds raised will be used to develop a cutting-edge technology platform and high-quality unique content.

It said the organisation aims to continue researching future skills, and development cycles involving stakeholders and building a backbone to create top-notch content for young learners. Prominent children’s author Singh was an adviser to India’s 11th President APJ Abdul Kalam.

Ankur Mittal, the co-founder of Inflection Point, said that exposing young people to future learning programs through technology enriches their understanding of non-academic but insightful topics such as time travel, allowing them to explore uncharted territories touched by Homi Labs, is commendable.

According to a report by RBSA Advisor, the growth of the edtech industry in India will be supported by growing demand and strengthening business models, complemented by the promotion of government policies.

The New Education Policy (NEP) 2020 also provides policy impetus for the industry by recognising the role of technology in education. Furthermore, India’s estimated inelasticity of education income relative to other spending is 0.93, meaning that at any income level, Indians are more inclined to spend on education.