Eduncle will be using the funds for expansion and development of new products while bolstering its tech infrastructure.
Mumbai Angels Network, a premium platform for early-stage investments along with ah! Ventures, KareKaBa Ventures and others, participates in a USD 750K round for Eduncle.com, a fast-growing online learning platform for IIT JAM, UGC NET and CSIR NET. Eduncle will be utilizing the freshly infused capital to achieve its expansion objectives and to develop new products for additional exams, commence live classes, and bolster its tech infrastructure. The platform also plans on augmenting its doubt-solving features with the integration of AI and ML.
“With the Ed-tech space witnessing cut-throat competition, the need for unique solutions is greater than ever before, and Eduncle is doing just that. The platform has seen 2x growth in its student base, paid subscribers, and revenue in the last 12 months while being extremely capital efficient. Eduncle’s offerings have become increasingly robust in recent times, making high-quality education accessible to all. We believe that the fresh capital will allow them to achieve their goals and reach greater heights,” added Nandini Mansinghka, Co-Founder & CEO - Mumbai Angels Network.
Arpit Pareek, Co-Founder, and COO of Eduncle said, “Eduncle was founded with the aim of providing easier access to quality learning for every aspirant in India. Our holistic approach to learning solutions makes Eduncle a one-of-a-kind platform in the league of Ed-tech apps, and it is highly scalable as well. Our platform provides learners with end-to-end test preparation and guidance for higher education with multiple features such as live classes, video lectures, printed material, automated doubt solutions, and test series combined with personalized one-on-one mentorship sessions. We are elated to have marquee investors backing us in our growth journey. The capital will allow us to enhance our offerings and scale further.”
“Education is a key growth component to scale a better future not only for aspiring professionals and business verticals but for the growth of the nation. As an investor, it's exciting for me to be a part of Eduncle's business and onward journey, as they use the funds to upscale high-quality education and learning solutions across the whole country and also globally by providing online solution for higher education, creating the exponential growth in times to come." said Ankur Bansal, Co-Lead Investor for Eduncle.
Dr. Amit Pareek, Founder & CEO, Eduncle, started with a small team of 5 people and a mission to empower students with the power of knowledge & build their concepts so that they can lead in their exams, career, and lives. Going ahead with the vision of providing holistic learning solutions to every student in the country, Eduncle is now an ever-growing organization with close to 150 employees, 75 top faculties, and more than 500 tutors working diligently 24*7 to accomplish its mission. Eduncle is the #1 platform in terms of traction for IIT JAM, UGC NET, and CSIR NET exams, having achieved 4000+ selections with more than 200 students in the Top 100 AIR. Eduncle has achieved over INR 28 Cr. in revenue and has over 46,000+ paid subscribers with more than 7.5 Crore visitors, and 34 Lac+ registered learners to date.
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