Artium Academy Secures Rs 19.2 Crore in Series A Funding

Artium Academy, an online music learning platform, is preparing to obtain Rs 19.2 crore (around $2.13 million) in its Series A funding round, led by Jejurikar Longevity Trust. The round also includes contributions from Savitha Ramesh and existing investor Chiratae Ventures.

The board of Artium Academy has authorised the issuance of 60,450 Series A compulsorily convertible preference shares (CCPS) priced at Rs 3,176 each in order to raise the amount stated, as disclosed in their filing with the Registrar of Companies (RoC).

Details of the Funding Round

Jejurikar Longevity Trust will spearhead this tranche with an investment of Rs 9 crore, while Savitha Ramesh will contribute Rs 7 crore. Chiratae Ventures is set to invest Rs 3.20 crore.

Company Valuation Surge

According to estimates from Startup Superb, the valuation of Artium Academy is anticipated to increase over 4X, reaching around Rs 375 crore (approximately $41.2 million), compared to its previous value of Rs 90 crore when it secured $3 million led by Chiratae Ventures in October 2022.

The funds raised will be applied towards business expansion, growth strategies, and general corporate purposes, as outlined in the filing.

About Artium Academy

Co-founded in 2020 by Ashish Joshi, Vivek Raicha, and Nithya Sudhir, Artium Academy provides an online platform for music education, offering 1:1 live classes across a variety of vocal and instrumental categories, all designed to enhance structured music learning through advanced technology.

Following the latest tranche allocation (excluding the ESOP pool), Jejurikar Longevity Trust will own 2.65% of the company, Savitha Ramesh will hold 6.75%, and Chiratae Ventures will have 18.28%. The co-founders, Ashish Joshi, Vivek Raicha, and Nithya Sudhir, will collectively maintain a 39.48% ownership stake.

Financial Performance Overview

In FY25, Artium Academy’s operating revenue climbed to Rs 27.77 crore, up from Rs 18.96 crore in FY24. However, the company also faced a net loss that rose by 13.8%, reaching Rs 21.55 crore compared to Rs 18.94 crore in the previous fiscal year.