Gradeup, an edtech startup, has bagged $7 million (approx INR 49 crore) in series A funding from Times Internet, reported Yourstory.
The platform Gradeup, will be utilizing the infused capital to upgrade its technology and product capabilities, diversift offerings and scale its academic team.
Importantly, till date, the startup Gradeup has raised $10 million and the present capital infusion is the second fundraise for the platform.
Shobhit Bhatnagar, Co-founder and CEO, Gradeup, said, “This round of investment from one of the largest internet enterprises across India is an endorsement of our will to build the most effective edtech solution in the country. We are investing fresh funds to further build our live online coaching platform, scale our academic team to 100 faculties and 200 subject matter experts, and to expand further in Tier II, III, and IV towns.”
Gradeup was founded by Shobhit Bhatnagar, Sanjeev Kumar, and Vibhu Bhushan in 2015. The ed tech platform claims to assist over 15 million students to prepare them for competitive exams such as JEE, NEET, IBPS, SSC, TET, GATE, and UPSC, etc.
It also provide live courses from faculties across India, which include further engages students through live classes, interactive quizzes, mock tests, 24×7 mentorship, and others.
Gautam Sinha, CEO Times Internet, said, “Gradeup has been able to build the largest online student communities in India, and we are excited to be partners in their mission to improve education in India.”
Gradeup’s platform also includes exam-specific communities, which enable students to interact with fellow peers and mentors, ask questions, share updates, and access free study material.
Gradeup claims that it enrollment will touch 60,000 students by the end of FY20, and cross 150,000 by the end of FY21.
Besides Gradeup, other ed tech platforms, booming in the industry include BYJU’s, Unacademy, Clap Global, Khan Academy, Toppr, and many more.