Lets have a glance on fundings raised by few innovative edtech startups which is indeed a huge success for them. Raising funds helps them to create a holdfast in the market. edtech has revolutionarised the way of studying and has brought up a remarkable change.
This is a well known mobile tutoring platform which is Bangalore-based. It was founded in 2013 by Jayadev Gopalakrishnan and Gokul Janga.It has a platform which connects educators and students, starting with testprep. It enables connecting students to tutors 24/7, this is something which makes it stand out amongst the crowd.
It has raised an undisclosed amount of funding from leading angel investors including Flipkart co-founder Binny Bansal. Other investors who were a part of this round were Bhavish Aggarwal (CEO & co-founder, Olacabs), Rajan Anandan (MD, Google SE Asia & India), Max Gabriel (CTO Taylor & Francis, UK). The raised fund will be used for building categories and products besides marketing.
This is a Mumbai based startup which aims to build test preparation for all competitive exams in the country including Bank PO, IBPS LIC, UPSC, SSC GATE. Testbook currently has close to 4 lakh users and over 1 lakh downloads on its mobile app and has conducted over 7.5 lakh tests in its platform.
Testbook raised under $250K from LetsVenture in the year 2014. Now they have received undisclosed amount of funding from education content provider, S Chand and Company. Testbook will use the raised funds for its growth strategy, improve the product and increase its user base. The S Chand Group has been investing in the fast growing Edtech space, having completed five transactions since 2014 and created a presence in smart class solutions, tablet-based content delivery, STEM based activity kits, home tutoring and online test preparation.
Byju’s started in 2011 as an offline test prep provider for exams like CAT, GRE, GMAT and the Civil Services. It then expanded into coaching for school students.Byju’s Classes has an estimated 900 employees and an estimated annual revenue of $10M. It has currently reach over 20 lakh students, all of whom are free users, and are adding nearly 20,000 students every month.
Byju’s has raised $75 million ( approximately 500 crore) from Sequoia Capital and Sofina in the largest fund raise by an edtech startup in India.The latest funding will assist Byju’s to improve its content delivery, expand its product pipeline, launch in new markets and continue to build its talent pool.
Toppr helps students prepare for competitive exams – like the joint entrance exam (JEE) and medical exams — and other Olympiads and scholarship exams.Current online content on Toppr has around 170,000 student subscribers. They expect one million students onto Toppr by the end of the year and five million students by 2017.
The company, founded in 2013, initially raised an angel round from Kasyap Deorah and Abhishek Jain, and a series A round of Rs 12 crores ($2 million) in 2014. The company now has received a funding round of Rs 65 crores (approximately $10 million) led by Fidelity Growth Partners India, and existing investors, SAIF Partners and Helion Ventures.The funding will be used for building the team and expanding into lower grades (5th to 8th grades).