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One of the early EdTech startups which started conducting online tests for preparation of IITJEE and NEET, Toppr has raised $6.92 Mn (INR 45 Cr) in its Series B funding, led by its existing investors SAIF Partners, FIL Capital Management and Helion Ventures.
Sneak peek into Toppr’s journey so far
Toppr was launched with a vision of personalising education for students starting from classes 5 to 12, across all national and state boards. The EdTech Startup renders tailored content that helps students learn better. They also have their test series which helps the students to prepare better for board and competitive exams like IIT JEE and NEET. The company was founded by Zishaan Hayath and Hemanth Goteti.
The Startup has presence in Mumbai, Delhi, Chennai, Bangalore, Hyderabad, Ahmedabad, Pune, Nagpur, Jaipur, Kota, Vijayawada, Indore, Bhopal, Lucknow, Gurugram, and Baroda. The Startup claims to be a platform community of 8000+ educators from across the country along with more than 1 Mn learning pieces in the form of questions, solutions, concepts, and videos for the students signed up on the app. The average spend time per user trends for upto 2 hrs and around 90% students renew their subscriptions when they are promoted to the new class. The Startup claims to have 1.1 Mn doubts, provided 9 Mn tests, and 110 Mn practice questions answered.
The Startup has raised a sum total of $12 million funding majorly from Fidelity, SAIF, FIL Capital Management and Helion. With its rival like Byjus and Unacademy exploring International territory , the Startup seems to have a steady flow and is looking to create an impact more through its product than by its reach!
Speaking over the development, Zishaan Hayath, CEO & Founder, Toppr stated, “This is the second round of series B funding by our existing investors. It is the reflection of our healthy unit economics and a reinforcement of the belief that the investors have in us. This capital will be used to expand the geographical footprint and accelerate user acquisition. We expect this capital to take us to full profitability.”