EP16: Power of teachers in a coaching centre, raising US$ 9M to support offline Ed {Mukul Rustagi, Co-founder of Classplus}

We have a deep conversation with Mukul Rustagi of Classplus, and IIT Roorkee grad who had the intent to solve problems right through college, just like his co-founder Bhaswat.

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We explore the world of coaching institutes, how a teacher at the institute influences a child’s ability to learn and get better. We delve into building the Classplus business model and understand how Classplus has been able to carve a niche for itself and raise 9 million dollars as part of their Series A from marquee investors including Sequoia and Blume Ventures.

Mukul has a book recommendation for anyone who loves sports and build a perseverance mentality — Marvan Attapattu

My favorite quotes from the show are:

“70%-80% of centers are in tier 2 cities and beyond”

“Technology cannot replicate the experience of learning from teachers”

“Technology will be a supplement teachers”

Classplus is hiring, you can find Mukul on LinkedIn and email via mukul@classplus.co

Classplus has investments from RTP Global — a prolific investor in early stage startups, Times Internet, Blume Ventures, Sequoia Capital India’s Surge, Spiral Ventures, and Strive.

Timeline:

2:45 — Early Days

4:42 — Finding each other and the passion for starting up

6:35 — Classplus

8:26 — Competitors; B2B vs B2C

11:29 — Tech adoption outside of Metros & large cities

13:15 — Expense on coaching spends

15:50 — Structuring classes

17:06 — Kota Factory*

20:58 — Mentoring a key part of tutoring

24:41 — Co-creating the product with teachers

33:15 — Sequoia Surge program

35:44 — Series A raise of $ 9 million

36:52 — Spending a large fund raise

39:01 — Hiring

44:03 — Kunal, Bhavish & Kunal