Eight Times Eight, a Kerala-based ED-Tech startup raises USD 5 million in pre-seed funding
Nov 01, 2022
New Delhi [India], November 1 (ANI/SRV): Eight Times Eight, founded in 2020 by six college students who are international-level chess players, raised $5 million in pre-seed funding on September 19, 2022. The funding will be used to accelerate product development, scale operations sales, and hire new team members. Also, the funds will be used to develop the Learning Management System and strengthen the technology stack. Eight Times Eight aims to open physical centres in a calculated move to switch to hybrid mode with the same.
The start-up currently provides live, interactive chess classes to students in 20+ countries. They will also be launching India's first-ever chess kit, which consists of a beautifully designed chess board, a chess workbook, and animated chess videos that will make learning the game fun and exciting.
The syllabus for the Eight Times Eight workbook has been curated by their ambassador, Grand Master SL Narayanan, a former India No. 4, Commonwealth Silver medallist, and a member of the Indian Olympiad Chess Team.
Eight Times Eight is on a mission to popularise chess among children and, thereby, advance their life skills with the game. Chess has an intellectual image in front of people, and there is a myth that only smart people play chess. Eight Times Eight wants to debunk this myth and prove otherwise.
Chess is not just a game, but a key life skill and has the potential to silently transform the lives of individuals. It can create champions both on and off the board. The funds we have received will certainly feed into our dream of popularising chess. We are building a community throughout the world and the domain expertise that we have in this field will surely be beneficial, "said Abhijith, who is the CEO of Eight Times Eight.
All the co-founders of Eight Times Eight have represented India at global events. The co-founders began working on a full-time basis in September 2021.
This story has been provided by SRV. ANI will not be responsible in any way for the content in this article. (ANI/SRV)
