Edtech Startup Adda247 Raises $20M In Series B Funding
Gurugram-based edtech startup Adda247 has raised around $20 million in a Series B funding round led by WestBridge Capital. Existing investors, including Info Edge, Asha Impact and JM Financials, also participated in the funding round.
The startup plans to use the raised funds to optimise the technology and product to improve the learning outcomes on its platform and give its users a superior learning experience. Adda247 also plans to conduct senior-level hiring and is foreseeing the acquisition of a few companies with complementary offerings.
Adda247 | Adda Kaamyaabi Ka
Founded by Anil Nagar and Saurabh Bansal, Adda247 is a Gurugram-based multilingual edtech platform that provides online courses in nine languages. The edtech startup targets learners outside the metros and provides courses in vernacular languages like Telugu, Malayalam, Tamil, Bengali and Odia.
With 15 million monthly active users, the startup offers products like live-video classes, on-demand video courses, mock tests, and books focussed on government examinations.
Speaking on the development, Pramod Bhasin, Co-founder of Asha Impact, said,
“Anil and Saurabh have shown remarkable leadership over the last 18 months and have built a category-leading company that over 20 million students rely on. Based on their deep understanding of this student base, Adda247 is uniquely positioned to become the largest mass-market focused edtech platform in the country, and we’re thrilled to have Westbridge join us in the journey.”
The multilingual edtech platform is on a mission to take quality education to the masses and provides 360-degree learning solutions catering to all major educational needs of Tier II, tier III including, online courses for competitive exams like Banking, SSC, Teaching exams, Defence exams, GATE, JEE, NEET, UPSC and state exams.
As per Anil Nagar, Founder and CEO of Adda247, India, at present, has more than 50 crore learners, which makes our educational market enormous and open for diverse requirements.
Adda247 has also recently entered the K12 segment targeting state board students in Tier II, Tier III and small towns.
Need legal assistance for your startup? Just contact us.