Eduncle, an online learning platform for IIT JAM, UGC NET and CSIR NET, has raised $750,000 from Mumbai Angel Network, Ah! Ventures, an early-stage investor, and Patna-based KareKaba Ventures, among others.
The Kota-based startup plans to use 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.
Co-founder by Amit Pareek, an MBBS-degree holder, Indian Institute of Management (IIM) Kozhikode graduate Arpit Pareek and Hardik Rupani, a former financial advisor in 2016, Eduncle 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.
Eduncle is on a mission to empower students with the power of knowledge & build their concepts so that they can lead in their exams, career, and lives. Every day, the platform works hard to innovate better learning methods, create high quality-concept building content with the help of best teachers, develop technology that enables experts to deliver courses more engagingly to mentor students at every step from learning to leadership.
Speaking about the platform, Co-founder and COO of Eduncle, Arpit Pareek, said, "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."
The company claims to have achieved over Rs28 Crore in revenue and has over 46,000 paid subscribers with more than 7.5 Crore visitors, and 34 lakh registered learners to date.
Commenting on the funding, Co-founder and CEO of Mumbai Angels Network, Nandini Mansinghka, said, "With the edtech space witnessing cut-throat competition, the need for unique solutions is greater than ever before, and Eduncle is doing just that. We believe that the fresh capital will allow them to achieve their goals and reach greater heights."
Co-Lead Investor for Eduncle, Ankur Bansal, added, "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."
In the near future, Eduncle also plans on augmenting its doubt-solving features with the integration of AI and ML.