EdSarrthi, a mentorship platform for UPSC CSE and other competitive exams, has raised an undisclosed amount in a seed funding round from a group of angel investors.
According to its founder, Varun Jain, the funds raised will be utilized to further expand its team and diversify its product offering.
In the online education era, the study content has multiplied enormously creating a “Problem of Plenty” for the students. The problem of Plenty means when a student has multiple sources to study from but is unable to decide on the right source. It also means a situation where students gather a lot of information but don't know how to utilize it in examinations. EdSarrthi is solving this problem through its mentorship initiative.
EdSarrthi was started in September 2020 during lockdown when the EdTech sector was booming with a lot of funding coming from the investors. According to the company, the startup was bootstrapped for 1.5 years and managed to get 7000 paid customers on its learning app during this period. It claimed to witness more than 1 lakh unique visitors on its web portal and app with an average 12-minute engagement time during the period.
Co-founder Prafful Agarwal said,
"The company has had a positive cash flow in the past 1.5 years and now has raised the fund to further scale up the operations. We are here to build a sustainable company fulfilling the aspiration of investors, employees, and its customers."
According to Prafful, the problem of plenty will magnify with the growth of content-based EdTech companies, and so it plans to offer its services in State PCS and other competitive exams in near future.
With the opening of offline coaching centers, EdSarrthi plans to move into a hybrid model through its CoStudy Physical Spaces led by its mentors. The startup has also rolled out its plan to build partnerships with various public and private institutions. The focus in the case of a public institution is on providing quality mentorship in remote areas while in the case of a private institution it is on mentoring at an early age.
EdSarrthi said out of 685 students who made it to the merit list in the recently announced UPSC Civil Services Exam 2021, 36 students got selected through its platform, of which 6 students scored in the Top 50 rank at the All India level and 9 students in Top 100.