Noida-based edtech startup Classplus is all set to raise over $30 million in funding, according to three people aware of the details of the transaction.

First reported by entrackr, this latest funding round would be the third fundraise by the Noida-based edtech startup in the past year. Classplus had raised over $8 million and $10 million in May and September 2020, respectively.

According to a source requesting anonymity, Classplus will be valued in the range of $130-150 million (post-money) in the potential transaction. 

One source said,

“GSV Ventures would lead the round while existing investors including Alpha Wave Incubation are also participating.”

Also, as per the source, the funds will be used to ramp up tech capabilities and expansion.

Last year, Classplus acqui-hired Bengaluru-based data-entry automation solution Merak.ai.

Started by Mukul Rustagi and Bhaswat Agarwal in 2018, Classplus is a coaching management platform that helps in the digitization of coaching class operations.

Classplus claims to have a presence in around 1100+ cities and the platform is currently used by more than 1lakh+ educators and more than 7 million students.

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