SpeakX, a Gurugram, Haryana-based edtech startup in India, is aiming to raise $15 million in funding to enhance its voice-first AI platform for teaching conversational English. The funds will be used to scale engineering and AI-driven personalization features, catering largely to users from smaller towns.
Indian edtech startup SpeakX, known for its AI-powered, voice-first platform that teaches conversational English, is in talks to raise $15 million in a fresh funding round, according to sources familiar with the matter.
The startup, led by serial entrepreneur Arpit Mittal, plans to allocate the funds towards expanding its engineering team and developing agentic AI technology—enabling the creation of personalized AI agents for each user. This approach aims to provide tailored English learning experiences to users, many of whom come from India’s tier-2 and tier-3 cities.
Founded as YellowClass in 2020, the platform initially offered hobby classes for children aged 3 to 12. In 2023, the company pivoted to English education under the SpeakX brand. It operates on a subscription model, charging ₹300 per month, and currently claims $7 million in annual recurring revenue with an EBITDA run rate of $3 million.
The startup has already received commitments from Elevation Capital, an existing investor. Other participants in the upcoming round include Goodwater Capital, a U.S.-based consumer tech venture capital firm, and WestBridge Capital, a global investment company.
SpeakX has previously raised $7.3 million, including $1.3 million in seed funding led by India Quotient, and $6 million in Series A led by Elevation Capital, along with Titan Capital and First Cheque, according to Tracxn.
The edtech sector in India has seen waning investor sentiment due to the collapse of major players like Byju’s and difficulties faced by Unacademy. However, investors are still bullish on personalized, AI-driven learning models. Recently, Stimuler secured $3.5 million in a round led by Lightspeed and SWC Global, while SigIQ.ai raised $9.5 million from The House Fund and GSV Ventures.
SpeakX is betting on affordable, scalable AI education to empower millions across India’s smaller cities who seek English fluency for career advancement—especially as multinational companies expand into these regions.