Bhanzu Secures $16.5M for US Expansion, Equal Identity Raises $10M for Digital Verification

Bhanzu Secures $16.5M for US Expansion, Equal Identity Raises $10M for Digital Verification

Bhanzu and Equal Identity Secure Major Funding for Growth

Two startups, Bhanzu and Equal Identity, have raised significant funding to expand in education and digital identity verification.

Bhanzu Raises $16.5M to Grow in the US

Bhanzu, a Hyderabad-based math education platform, raised $16.5 million in a Series B funding round. The round was led by Epiq Capital and Z3 Partners, with support from Lightspeed Ventures and Eight Roads. This brings Bhanzu’s total funding to $33 million.

The funds will be used to:

  • Expand in the US market, where there is a high demand for better math education.
  • Improve its interactive math courses for children aged 5 to 16.

Key achievements include:

  • 8x operational growth since its last funding round.
  • A 13x increase in FY23 revenue, reaching ₹47.33 crore.
  • Training over 30,000 students globally.

Bhanzu operates in India, the US, the UK, and the Middle East. It competes with platforms like Cuemath, Unacademy, and Adda247.

Equal Identity Secures $10M for Digital ID Solutions

Equal Identity, a Hyderabad-based identity verification startup, raised $10 million in a Series A round. The round was led by Prosus Ventures and Tomales Bay Capital, with contributions from DST Global Partners and Quona Capital. The funding values the company at $80 million.

Founded in 2021 by Keshav Reddy and Rajeev Ranjan, Equal Identity provides:

  • Digital ID verification workflows.
  • Face biometric authentication.
  • APIs for secure consumer profiling.

The company partnered with OneMoney AA to create a secure data-sharing system. This partnership supports India’s DPDP Act 2023, giving users control over their personal data. Equal Identity helps businesses in finance and e-commerce build trust with their customers.