Edtech platform Classplus has invested undisclosed capital in Noida-based test preparation app Abhinay Maths.

As per the Noida-based startup, the raised funds will be used for business expansion, branding and marketing. 

Abhinay Maths | Test Prep App

Founded by Abhinay Sharma in 2017, Abhinay Maths focuses on competitive exams such as SSC (CGL, CPO, CHSL, etc.), Bank (Clerk, PO), Railways (Tech and Non-Tech) and other government exams. 

Operated by Amcp Edutech Pvt Ltd, Abhinay Maths was initially launched as an educational YouTube channel, wherein the channel garnered around 2.5 million subscribers. Subsequently, Abhinay Maths launched an application in association with Classplus that claims to serve over 200,000 students in around 500 cities and towns across the country. 

Speaking about the development, Abhinay Sharma, Founder and CEO of Abhinay Maths,

“This strategic investment from Classplus will also allow us to use the leverage of technology and provide cost-effective test prep coaching to millions of government job seekers from tier 2, 3, and 4 cities.” 

Founded by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus is a mobile-first software-as-a-service (SaaS) platform that helps educators and content creators launch and digitize their offline education centres and monetize them as well.

In March 2022, Classplus raised $70 million as part of its Series D funding round, which was co-led by Tiger Global Management and Alpha Wave Global. The B2B edtech platform has cumulatively raised $160 million from a host of investors, including Blume Ventures, Sequoia Capital India’s Surge, RTP Global, and Spiral Ventures, amongst others. 

Edtech India

Amid the funding winter, the edtech space has been facing unprecedented difficulties with some of the biggest names in the edtech industry, like Byjus, Vedantu, and Unacademy, going with mass layoffs.

Despite the struggle raising funds, few edtech startups have managed to raise funds. In January, Surgeup Technologies Pvt Ltd, which operates the gaming-focused edtech platform upsurge, raised pre-seed funding of $370,000 (around Rs 3 crore). Also, Toddle, a learning management system startup, raised $17 million in a Series A round.

Last year, in December, Uolo, a B2B edtech startup, raised USD 22.5 million in a Series-A funding round led by UAE-headquartered VC fund Winter Capital.

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