Investors eye education-tech startups. Byju, Testbook, Eruditus raise capital
After the success of Byju, India’s largest technology enabled education startup, the edu-tech space is witnessing investors’ interest.business Updated: Apr 03, 2017 14:47 IST
After the success of Byju, India’s largest technology enabled education startup, the edu-tech space is witnessing investors’ interest.
On March 29, Byju announced a fresh round of funding -- $30 million -- from Verlinvest, a venture capital firm.
On Monday, Matrix Partners India announced today that it has invested an undisclosed amount in education technology startup, Testbook.
Founded by a team of IIT graduates, Testbook is an online learning platform enabling students to prepare for recruitment exams for Government jobs such as SBI PO, SSC CGL, IBPS PO, Railways and many more, Matrix said in a statement here. Government jobs exam preparation is one of the largest education markets in India with over 40 million students appearing every year for such exams.
“We are on a mission to reshape the process of how students prepare for competitive exams. Our endeavor is to deliver world class, personalised learning content for students while solving the problem of access and affordability for the masses,” Ashutosh Kumar, founder and CEO of Testbook, said.
Ed-tech startup Eruditus also raises $8M from Bertelsmann.
Eruditus Executive Education that provides high quality executive education programmes, today announced that it has raised USD 8 million or about Rs 52.36 crore in a second strategic round (Series-B) from Bertelsmann India Investments (BII).
The company said it plans to deepen Ivy League partnerships and grow global footprint, through these funds.
The company, co-founded by Ashwin Damera and Chaitanya Kalipatnapu in October 2010, collaborates with top business schools such as INSEAD, Harvard Business School, Wharton, Tuck, MIT Sloan and Columbia Business School in bringing their professional development programs to India, Asia and the Middle East.
(With inputs from PTI)