Former Paytm Vice President Saurabh Jain is all set to restart his entrepreneurial journey with an edtech play Fun2Do Labs, which claims to bring a flavour of games to the learning process for kids. This comes as multiple executives from Paytm have exited the company to embark on their own startup path.
“We are creating a transmedia ecosystem for primary school education. We believe that the digital school of the future would not be a digital classroom, but it will evolve like a digital amusement park,” said Jain to Entrackr.
Fun2Do is creating a portfolio of mobile games which will enable kids to discover and grasp Math fundamentals from Nursery to Class 5 while playing. “Our games will also incorporate ‘maker education’ features in them which will improve the creativity of kids,” he added.
Jain has long experience in mobile game development. Before his stint at Paytm, he had co-founded an edtech startup Skidos that was focused on building educational mobile games. His earlier startups have also developed mobile games for Games2Win and Walt Disney-owned Indiagames.
Queries sent to Jain regarding the startup’s future plan to raise funds remained unanswered. As per Entrackr’s sources, it is likely to get backing from notable angels and institutional backers.
Jain filed his resignation at Paytm in January to start the new venture. With this move, he has joined the likes of former Paytm executives who have also launched new ventures after their exit from the company. Last week, Paytm Money’s MD and CEO Pravin Jadhav launched his fintech venture Raise Financial almost a year after leaving the wealth management company.
The long list of former Paytm executives who have started their ventures, often referred to as the Paytm Mafia, including Shankar Nath, Ankit Gera, Amit Bagaria, Saurabh Vashishtha, Amit Lakhotia, Deepak Abbot, Nitin Misra, Amit Sinha and Bhushan Patil.
Apart from Patil, who is the founder of an early-stage focussed VC fund Multiply Ventures, all of the above-mentioned erstwhile executives at Paytm have managed to raise funds for their entrepreneurial gigs. Recently, Deepak Abbot and Nitin Misra-led gold-centric lending startup Indiagold raised Rs 14 crore in its seed round led by Leo Capital.
Entrackr has exclusively reported the development on February 27.