Edukemy, a test prep platform for government competitive exams, has raised $2 million in pre-Series A round led by Auxano, Falcon5, and other angel investors.
The Noida-based company plans to use the funds to further strengthen its position by working towards building the best test prep platform for multiple competitive examinations, as well as to build the team and scale the product.
Edukemy, started by co-founders Chandrahas Panigrahi (CEO), Deb Tripathi (CTO), and Shabbir A Bashir (CAO) in April 2020, created a one-of-a-kind evaluation model for non-subjective as well as subjective competitive exams.
Talking about the latest move, Founder and CEO of Edukemy, Chandrahas Panigrahi said,
"We are thrilled and humbled to welcome like-minded business partners as we grow together in our journey of becoming the best EdTech company in the government competitive test preparation. Since our inception, our business and presence in the field have grown multifold.”
According to Panigrahi, the company is working towards achieving an ARR of $3Mn in revenue. He said that this year in the first quarter alone Edukemy has tripled its revenue base and crossed 10k+ paid learners and plans to scale 4X in the current year.
Since December 2020, Edukemy's platform is gaining great traction with a growth of 3x in the content viewed by the audience and doubled the engagement rates in classes by making the learning interactive and effective. The subscriber revenue is growing, and it aims to reach 1 million paid learners by 2023 and plan to expand into additional verticals, the company said in a press statement.
Manish Mehta, Managing Partner, Falco 5, has also commented on the investment,
"We were extremely impressed by Edukemy founders’ vision to disrupt the non-stem test prep sector through technological innovation. Their bold approach is exactly what is needed to provide learners with evaluation-driven pedagogy and personalised learning experiences, and we are excited to join them on their next mission to reach out millions of students achieve their dreams and success in life."
Edukemy’s vision puts the aspirant first and focuses on their learning journey and outcomes. Its model effectively combines content, technology, and experience, offering a significantly high proportion of live lessons for in-class experience, model answers, peer learning, and communes for its post-class engagement.
The platform's mission is to build the next generation of EdTech, focused on a student-centric experience, enabled through deep insights, actionable feedback, quality content, and hyper-personalized learning.
In May this year, Edukemy had announced a new course ‘Neev’ to provide expert guidance to students preparing for aptitude and personality-based competitive exams. The course aims to help students make the right career choice based on an evaluation of their current skill set. As part of the campaign, customers can avail ‘Neev’ in an affordable manner with their purchase of laptops and tablets on Flipkart.