Ed-Tech Startup Foradian Raises $2M Funding
Bangalore based Foradian Technologies today announced that they have raised USD 2 million funding from Mr. William Bissell, MD, Fabindia. Foradian offers enterprise software solutions to the education Industry.
The funds raised will be utilized to add more features to its flagship product Fedena and take the product to new markets across the globe. Fedena is a school and edu campus management solution which is currently used by over 40,000 schools and colleges in over 100 countries across the world.
Foradian Technologies was founded in 2009 by Abdulla Hisham, Abdul Salam, Arun Raveendran, Arvind G S, Unni Koroth & Vishwajith. It started as a web design company but went on to develop their own custom student information system called “Foredu”, which was later renamed to “Fedena”.
Fedena is a multipurpose open-source school management software used by educational institutions, students and teachers worldwide for all administration, management and learning related activities. Globally, Fedena has partnered with thousands of educational institutions across developing nations of South America, Africa and Asia. Foradian also has recently launched Uzity – an LCMS (Learning Content Management System) in addition to Fedena.
The investment of $2 million came solely from Mr. William Bissell, who has a personal interest in the education sector. ‘The Fabindia School’ in Rajasthan of which he is a patron uses all features that Fedena offers for their student management system and benefits from it.
In regards to the funding William Bissell said, “Educational institutions are increasingly becoming complex organizations. Fedena is a useful solution that helps integrate all the administrative functions of a school into a single, easy to use software. Fedena also has a unique business model that facilitates usage among elite institutes on the one hand and non-profit organisations, NGO’s and Government Institutions on the other. I see Fedena bringing about a similar revolution in schools and colleges as Tally has in the financial world.”
Mr. Unni Koroth, CEO of Foradian Technologies added, ‘‘Adoption of Fedena in educational institutions has grown explosively over the last few years. This funding will allow us to expand our team, improve the product further and scale for future growth. It will also give a fillip to our vision of building an ecosystem around Fedena. William will be an invaluable addition to the board as we target to be a billion dollar company by the year 2020.”